Diversified industrial manufacturer Eaton Corp. (NYSE: ETN), Cleveland, OH, reported sales for the third quarter were $3.95 billion, a year-over-year decrease of 4 percent. Core sales declined 2 percent, while foreign exchange caused declines of 4 percent. Acquisitions contributed 2 percent to the quarter’s sales growth. Profit decreased 5 percent to $345 million.

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For the first nine months, sales were $12 billion, down slightly from the same period a year ago. Profit increased 5 percent to $1 billion.

\”Economic growth in the EU and China remained subdued during the quarter, while industrial activity in the U.S. decelerated during the quarter reflecting uncertainties over fiscal reforms that have led customers to hold back on purchases,\” CEO Alexander M. Cutler said. \”As a result, we expect our markets for full year 2012 will show less growth than we had anticipated earlier in the year, with our markets for the year now estimated to grow between 1 to 2 percent.\”

Fourth-quarter results are expected to be impacted by the acquisition of Cooper Industries, approved by the shareholders of both companies last week. The acquisition is expected to close in the fourth quarter.

Third-quarter sales for the Electrical Americas segment were $1.14 billion, up 6 percent compared to 2011. Operating profits were $207 million. Excluding acquisition integration charges of $1 million during the quarter, operating profits were $208 million, up 31 percent over results in 2011.

Sales for the Electrical Rest of World segment were $686 million, a decline of 9 percent compared to the third quarter of 2011. Operating profits were $76 million. Excluding acquisition integration costs of $1 million during the quarter, operating profits were $77 million, up 24 percent.

Hydraulics segment sales were $763 million, up 6 percent compared to the third quarter of 2011. The sales increase was comprised of a 13 percent increase from acquisitions offset by a decline of 4 percent from core sales and 3 percent from foreign exchange. Global hydraulics markets were down 4 percent in the quarter, with U.S. markets down 1 percent and non-U.S. markets down 6 percent. Operating profits in the third quarter were $93 million. Excluding acquisition integration costs of $5 million during the quarter, operating profits were $98 million, down 11 percent from the third quarter of 2011.

Aerospace segment sales were $419 million, flat with the third quarter of 2011. Aerospace markets were up 4 percent compared to the third quarter of 2011. Operating profits in the third quarter were $49 million, down 31 percent from the third quarter of 2011.

Truck segment sales of $549 million in the third quarter were down 23 percent compared to 2011. Truck production in the third quarter was down 8 percent, with U.S. markets down 3 percent and non-U.S. markets down 11 percent. The segment reported operating profits of $103 million, down 26 percent compared to the third quarter of 2011.

The Automotive segment posted third quarter sales of $390 million, down 12 percent from the third quarter of 2011. Global automotive markets were flat, with U.S. markets up 8 percent and non-U.S. markets down 3 percent. The segment reported operating profits of $41 million, down 34 percent from the third quarter of 2011.