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For the full year, sales were $2.5 billion, up 15 percent over sales in 2010. Core sales improved 10 percent. Profit was $26.5 million, compared to $154.2 million a year ago.
Aerospace & Electronics fourth-quarter sales increased 7 percent, reflecting a 13 percent increase in Aerospace Group sales and a 3 percent decrease in Electronics Group revenue. The Aerospace sales growth reflected higher OEM and aftermarket activity, with an increase in both commercial and military related demand. Segment operating profit increased by 17 percent.
Engineered Materials segment sales of $45 million were equal to the fourth quarter of 2010, with slightly lower sales to recreational vehicle manufacturers offset by higher sales to transportation and building products customers. Operating profit and margins improved to $4.6 million and 10.1 percent, respectively, primarily reflecting the impact of higher selling prices and improved productivity.
Merchandising Systems sales of $86.2 million increased 13 percent, primarily reflecting sales associated with the December 2010 acquisition of Money Controls.
Fourth-quarter Fluid Handling sales increased 13.7 percent. Core segment sales increased 11.4 percent.
Fourth quarter sales in the Controls segment increased 3 percent to $30.9 million, driven by continued improvement in industrial, transportation and upstream oil and gas related end markets.
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| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
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