Motion and control technology manufacturer Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, reported sales for the second quarter of $3.1 billion, up 0.6 percent year-over-year. Profit increased 6 percent to $267.3 million, compared to the prior year quarter.
"Our year-over-year segment operating margins improved by 150 basis points, primarily reflecting strength in our Diversified Industrial North America businesses and improvement in our Aerospace Systems segment," said Don Washkewicz, president and CEO.
North American diversified industrial segment second-quarter sales increased 5 percent to $1.4 billion, while international sales in this segment decreased 7 percent to $1.2 billion.
Aerospace systems segment second-quarter sales increased 11 percent to $558.4 million.
Fiscal year to date, sales were $6.4 billion, up 1.1 percent over the prior-year period. Profit increased 10 percent to $547.3 million.