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Emerson (NYSE: EMR), St. Louis, MO, reported sales for the third quarter ended June 30, 2010 were $5.6 billion, an increase of 11 percent from the prior-year quarter. Underlying sales increased 7 percent, which excludes a 3 percent impact from acquisitions and a 1 percent impact from favorable currency exchange rates.
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Growth resumed in the U.S. and Europe, up 11 percent and 9 percent, respectively. Asia continued to grow, as it has each quarter this year, increasing 3 percent.
“Global markets continue to recover, at a slower pace than previous economic cycles, but in-line with our expectations. We expect this slow, but steady, recovery to continue for the next several years. We do not expect a double-dip recession in our end markets. This will be an environment where well-managed, global industrial companies can operate quite efficiently,” said CEO and President David N. Farr.