Rexnord LLC, Milwaukee, WI, power transmission and water management products supplier, reported sales of $283.1 million for the third quarter ended Dec. 30, 2006, up 7% from the prior-year period.   ; Income from operations grew 8.3% over the prior year to $18.2 million.
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Sales were impacted by the accident Dec. 6 at its Canal Street facility and the business interruption by about $15 to $20 million in sales.
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Rexnord reported overall positive trends in its business, with solid end markets. Order growth in the third quarter was 4.6%, slightly lower than the first six months of the fiscal year. The backlog sits at $386.6 million, 26% higher than the beginning of the fiscal year.
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Since the end of the quarter, Rexnord closed the previously announced Zurn acquisition, which created a second strategic platform within the company, specifically related to water management.
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In the first nine months of fiscal 2007, Rexnord recorded 11.8% sales growth to $869.6 million. About $25.2 million of the increase was due to timing of the Falk acquisition in May 2005.
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Rexnord’s sales increase was driven primarily by strength in industrial products end markets of natural resource extraction, metals processing, infrastructure expansion (mining, cement, aggregates) and food and beverages as well as strong demand for aerospace products.
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