Parker Hannifin Sales Down 11% in 3Q

Year-to-date sales down 12.2 percent year-over-year.

Motion and control technology manufacturer Parker Hannifin Corp.(NYSE: PH), Cleveland, OH, reported sales for the fiscal third quarter ended March 31 of $2.8 billion, down 11 percent year-over-year. Profit decreased 34.4 percent to $187.1 million.

North American diversified industrial segment third quarter sales decreased 13 percent to $1.3 billion, while international sales in this segment decreased 11 percent to $1 billion.

Aerospace systems segment third quarter sales decreased 2 percent to $561 million.

For the first nine months of the fiscal year, sales were $8.4 billion, down 12.2 percent from the prior-year period. Profit decreased 32.1 percent to $565 million.

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