Rexnord posts 12 percent sales decline
Rexnord Corporation's sales of $449 million in the second quarter were12 percent below the same period last year.
Net income of $36 million, or 29 cents per diluted share, compared with $41 million, or 38 cents, in the year-ago quarter.
Process & Motion Control net sales were $274.4 million in the quarter, compared to $330.1 million during the three-month period in 2019. Core sales decreased 15 percent year over year as a result of a reduction in market demand across the majority of end markets and geographies as customers reacted to and changed buying patterns given the current COVID-19 pandemic.
Water Management net sales were $174.7 million during the three months, which was 2 percent less than in the year-ago quarter.
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.
