The 2020 Mid-Year Economic Update_long

Parker Hannifin Sales Down 10.6% in Fiscal 2016

Fourth-quarter sales down 6 percent year-over-year.

Motion and control technology manufacturer Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, reported sales for fiscal year ended June 30 of $11.4 billion, down 10.6 percent from 2015. Profit was down 20.3 percent to $806.8 million.

Sales for the fourth quarter were $3 billion, down 6 percent year-over-year. Profit increased 34.7 percent to $241.8 million.

North American diversified industrial segment fourth-quarter sales decreased 11 percent to $1.3 billion, while international sales in this segment decreased 4 percent to $1.1 billion. Aerospace systems segment fourth-quarter sales increased 2 percent to $602.3 million.

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