Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, manufacturer in motion and control technologies, reported sales for the fiscal 2012 third quarter ended March 31, 2012, were $3.4 billion up 4.7 percent from the prior-year period. Profit was $312.7 million.
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Organic sales growth was 6 percent, led by a double-digit increase in the North America Industrial segment.
Internationally, results outpaced expectations for the quarter and market conditions remain stable, Parker reported.
In the Industrial North America segment, third-quarter sales increased 11.6 percent to $1.3 billion, and operating income was $227 million compared with $189.5 million in the same period a year ago.
In the Industrial International segment, third quarter sales declined 0.5 percent to $1.3 billion, and operating income was $195.1 million compared with $199.8 million in the same period a year ago.
In the Aerospace segment, third quarter sales increased 7.7 percent to $542.8 million, and operating income was $65.9 million compared with $69 million in the same period a year ago.
In the Climate and Industrial Controls segment, third quarter sales declined 6 percent to $248.7 million, and operating income was $23.2 million compared with $22.6 million in the same period a year ago.
Parker reported an increase of 2 percent in orders for the quarter ending March 31, 2012, compared with the same quarter a year ago. The company reported the following orders by operating segment:
- Orders increased 7 percent in the Industrial North America segment, compared with the same quarter a year ago.
- Orders declined 1 percent in the Industrial International segment, compared with the same quarter a year ago.
- Orders increased 4 percent in the Aerospace segment on a rolling 12-month average basis.
- Orders declined 6 percent in the Climate and Industrial Controls segment, compared with the same quarter a year ago
