Rockwell Automation sales decline 16.3 percent
Rockwell Automation said its fiscal 2020 third quarter sales were $1.39 billion, down 16.3 percent from $1.66 billion in the third quarter of fiscal 2019.
Net income was $317.8 million, or $2.73 per share, compared to $261.4 million, or $2.20 per share, in the third quarter of fiscal 2019.
"We continue to build resiliency for ourselves and for our customers. Year-over-year results are down, and conditions remain difficult, but our employees have responded extraordinarily well, and we remain focused on keeping them safe. Our earnings were higher than expected for the quarter, primarily driven by better organic sales," said Blake Moret, chairman and CEO.
Moret also announced that beginning next fiscal year, the company will operate with three operating segments - Intelligent Devices, Software & Control, and Lifecycle Services. "These new segments will simplify our structure around essential offerings, leverage our sharpened industry focus, and add software talent, which will play a larger role in our future value,” he said.
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.
