Ingersoll Rand sales climb 29 percent
Ingersoll Rand reported first-quarter revenues of $800 million were up 29 percent due primarily to the acquisition by Gardner Denver Holdings of Ingersoll-Rand plc's industrial segment.
Supplemental adjusted revenues of $1.3 billion were down 15 percent and down 14%, excluding the impact of foreign exchange.
A net loss in the quarter was $37 million, or a loss of 13 cents per share, based on share count of 277 million, compared to net income of $47 million, or 23 cents per share, based on share count of 208 million.
The Industrial Technologies and Services Segment revenues of $504 million were up 24 percent primarily due to the transaction. The segment includes a broad range of compressor, vacuum and blower solutions as well as fluid transfer equipment, loading systems, power tools and lifting equipment.
The Precision and Science Technologies Segment revenues of $113 million were up 42 percent primarily due to the transaction. The segment includes highly specialized gas, fluid management systems, liquid and precision syringe pumps and compressors
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.
