Kennametal sales up 8%
Kennametal reported third-quarter fiscal 2012 sales were $696 million, compared with $615 million in the same quarter last year.
Operating income was $103 million compared with $88 million in the same quarter last year.
"The March quarter reflected ongoing global expansion which benefited many of our served end markets and geographies. Organic sales grew by 8 percent year over year, demonstrating the effectiveness of our strategies to continue to outperform industrial production and further gain market share," said Carlos Cardoso, chairman, president and chief executive officer.
Industrial segment sales of $419 million increased by 7 percent from $392 million in the prior year quarter. On an organic basis, sales growth was led by aerospace and defense growth of 14 percent and general engineering growth of 7 percent while transportation end market sales remained at a relatively similar level as the prior year. On a regional basis, sales increased by approximately 12 percent in the Americas, 11 percent in Europe and were relatively flat in Asia due to strong comparisons from the prior year quarter.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
