Rockwell Automation, Inc., Milwaukee, WI, provider of industrial automation power, control and information solutions, reported sales for fiscal 2006 were $5,561.4 million, up 11% compared to 2005. Profit was $607 million, compared with $540 million in 2005.
Fourth-quarter sales were $1,453.7 million, up 9% compared to the same period last year. Profit was $165.8 million, compared with $129.3 million in the prior-year period.
Keith D. Nosbusch, chairman and CEO, said, 'In 2006, we benefited from strong end markets, disciplined execution, and cost productivity. We delivered double-digit revenue growth, increased earnings by about 25%, and expanded return on invested capital by nearly 4 points to more than 22%. '
Control Systems Control Systems sales for the full year were $4,551.3 million, an increase of 10% compared to sales of $4,123.6 million in 2005.
Fourth quarter sales were $1,188.8 million, an increase of 8% compared with the fourth quarter of 2005. The effect of currency translation added nearly 2 percentage points to the growth rate.
From a regional perspective, sales in the U.S. increased 3% in the 2006 fourth quarter, while non-U.S. sales increased 10%, excluding the effect of currency translation. Growth in the quarter was paced by continued strength in Latin America, emerging Asia, and Europe.
The Logix platform business grew by 12% in the quarter.
Power Systems fourth quarter sales were $264.9 million, an increase of 15% compared to the 2005 fourth quarter.
Sales for the full year were $1,010.1 million, an increase of 15% compared to $879.6 million in 2005.
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 well underway and is progressing as expected.
Outlook Nosbusch said, 'In fiscal 2007, we expect continued growth at rates more in line with our longer-term growth trend. A strong global mix of business and good momentum in Europe and emerging markets cause us to be optimistic, despite some recent weakness in selected industries and regions, particularly our traditional North American automotive market. We will also continue to benefit from our maturing productivity culture that aggressively drives cost reduction efforts to sustain operating leverage. The strength of our business model and our ability to drive growth and productivity simultaneously give me confidence that 2007 will be another good year for Rockwell Automation. id=bwanpa7>'