Parker Hannifin Sales for 2008 Grow 13.3% - Modern Distribution Management

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Parker Hannifin Sales for 2008 Grow 13.3%

Parker Hannifin Corp., Cleveland, OH, manufacturer of motion and control technologies and systems, reported sales for the fourth quarter ended June 30, 2008, were $3.3 billion, an increase of 13.3% over fourth quarter 2007. Profit was $252.6 million, 16.3% more than the same period a year ago.
 
For the 2008 fiscal year, the company reported sales of $12.1 billion, an increase of 13.3% over 2007. Profit increased 14.4% to $949.5 million, compared to the prior year. Organic sales growth was 4.8% for the year.
 
Despite challenging economic conditions, our continued focus on the core goals of the Win Strategy has enabled us to consistently produce record results for our shareholders,"said CEO and President Don Washkewicz. "Our sales growth also demonstrates the ...
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Parker Hannifin Corp., Cleveland, OH, manufacturer of motion and control technologies and systems, reported sales for the fourth quarter ended June 30, 2008, were $3.3 billion, an increase of 13.3% over fourth quarter 2007. Profit was $252.6 million, 16.3% more than the same period a year ago.
 
For the 2008 fiscal year, the company reported sales of $12.1 billion, an increase of 13.3% over 2007. Profit increased 14.4% to $949.5 million, compared to the prior year. Organic sales growth was 4.8% for the year.
 
Despite challenging economic conditions, our continued focus on the core goals of the Win Strategy has enabled us to consistently produce record results for our shareholders,”said CEO and President Don Washkewicz. “Our sales growth also demonstrates the significant progress we have made in international operations, which helps mitigate the effects of regional economic cycles. Acquisitions continued to play a role in our growth strategy, as we strengthened our portfolio by adding 10 companies in fiscal 2008 with nearly $546 million in annualized revenues.”
 
Segment Results
In the Industrial North America segment, fourth-quarter sales increased 10.5% to $1.2 billion.  For the full year, sales increased 4.6% to $4.2 billion.
 
Fourth-quarter sales for the Industrial International segment increased 27.6% to $1.4 billion from the prior year. For the full year, sales increased 28.3% percent to $5 billion.
 
In the Aerospace segment, fourth-quarter sales were $509.8 million, an increase of 14.7% over the prior year. For fiscal year 2008, Aerospace sales increased 9% to $1.8 billion.
 
The Climate &Industrial Controls segment saw fourth-quarter sales decrease 0.8% percent to $289.5 million. For the full year, sales decreased 1.6% to $1.1 billion.

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