Posted May 9, 2019

Rexnord 4Q sales grew by 4 percent

Rexnord reported that its net sales for the fourth quarter of fiscal 2019 were $538 million, a 4 percent increase year over year.

Core sales increased by 4 percent and acquisitions added 2 percent, while foreign currency translation had a negative 2 percent impact on the results.

Net income of $41 million, or 38 cents per diluted share, compared with a net loss of $68 million, or 51 cents, in the year-ago quarter.

For the full fiscal year, net sales increased 11 percent to $2.051 billion. Net income of $11 million, or 28 cents per share, compared with $53 million, or 62 cents, in the prior year.

“Net sales in our Process & Motion Control platform grew 3 percent year over year in our fourth quarter with mostly stable demand trends outside Europe and a relatively stronger contribution from our aerospace end markets," said Todd Adams, president and chief executive officer.

PMC net sales were $373 million in the fourth quarter of fiscal 2019.