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April 22, 2008

Parker Hannifin Organic Growth at 4.4% in 3Q

Cleveland, OH-based Parker Hannifin, supplier in motion and control technologies, reported sales in the third quarter 2008 were up 14.4% to $3.2 billion. Profit was up 22% to $255.4 million.
 
Organic growth was 4.3%.
 
In the Industrial North America segment, third-quarter sales increased 3.7% to $1.1 billion.
 
In the Industrial International segment, third-quarter sales increased 32.2% to $1.3 billion.
 
In the Aerospace segment, third-quarter sales increased 7.7% to $470.1 million. During the quarter, this segment was awarded a $2 billion long-term contract to supply the fuel package and hydraulic system for the new Airbus A350 XWB aircraft.
 
In the Climate & Industrial Controls segment, third-quarter sales increased 0.5% to $279.6 million. This segment continues to be impacted by the ongoing weakness in the automotive, residential construction, and heavy duty truck markets.

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