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January 22, 2008

Eaton Sales Up 7% to $13B in 2007

Diversified industrial manufacturer Eaton Corp., Cleveland, OH, reported sales for 2007 were up 7% to $13 billion. Profit was $994 million, an increase of 5%.
 
In the fourth quarter, sales were $3.4 billion, 10% above the same period in 2006, and profit was $256 million, an increase of 6%.
 
Sales growth in the fourth quarter included 4% from acquisitions, 4% from higher exchange rates and 2% from organic growth.
 
“Looking at 2007 as a whole, we had a very strong year,” said Alexander M. Cutler, Eaton CEO. “Our sales in 2007 grew 7 percent despite the downturn in the NAFTA class 8 truck market, and our operating earnings per share grew 8 percent. … And we concluded the year by announcing two significant acquisitions — Moeller and Phoenixtec — which will substantially grow our electrical business and also will significantly expand our mix of international sales."

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