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Rockwell Automation, Inc., Milwaukee, WI, supplier of industrial automation power, control and information solutions, reported sales for the third quarter of $1,428.4 million, up 13% compared with $1,264.7 million in the same period a year ago.
Net income for the quarter was $149 million, compared with $127.3 million a year ago.
Sales for the nine months ended June 30, 2006, were $4,107.7 million, up 12% from the prior-year period. Net income for the nine months ended June 30, 2006, was $441.2 million, compared with $410.7 million in the same period a year ago.
Following is a discussion of third quarter results for each business.
Control Systems third quarter sales were $1,166.1 million, an increase of 13% compared to $1,035.4 million in 2005. Growth remained strong in the U.S., Latin America, China and India, and results improved significantly in Europe. The Logix integrated architecture platform grew by more than 20% in the quarter and is now up approximately 22% for the year.
For the nine months ended June 30, 2006, sales were $3,362.5 million, up from $3,019.5 million in the same period last year.
Power Systems third quarter sales were $262.3 million, an increase of 14% compared to sales of $229.3 million in the 2005 third quarter.
For the nine months ended June 30, 2006, sales were $745.2 million, up from $648.5 million in the prior year.
In June, the company announced that it intends to divest the Dodge mechanical and Reliance Electric motors and motor repair services businesses that comprise nearly all of the Power Systems reporting segment. The divestiture process is underway and is progressing as expected.
For more details on Rockwell's 3Q results, click here.Related Links