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Switzerland-based power and automation company ABB reported sales for the first quarter of $7.9 billion, a 1 percent decrease compared to the same period a year ago, and a 3 percent increase on a like-for-like basis. Profit increased 45 percent to $724 million.
"We are seeing the first signals of market stabilization in some process industries, as well as some growth signals in early-cycle businesses," said CEO Ulrich Spiesshofer.