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.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
