Ingersoll Rand plc (NYSE: IR), Swords, Ireland, reported sales for the first quarter of $3.1 billion, a 1 percent decrease compared to the same period a year earlier. U.S. sales were up by 1 percent compared to 2012, and sales from international operations decreased 4 percent. Profit fell 7.4 percent to $94.6 million.
Climate Solutions sales were $1.6 billion, down 3 percent compared to the first quarter of 2012. On a year-over-year basis, total commercial HVAC revenues decreased slightly with a low-single digit percentage decline in equipment revenues offsetting increased revenues in parts, service and solutions. Commercial HVAC revenues declined in all geographic regions during the quarter compared with last year.
Industrial Technologies sales of $680 million declined 1 percent year-over-year. Air and productivity revenues declined by a low-single digit percentage, as volume increases in the Americas and Western Europe were offset by declines in Asia.
Residential Solutions first-quarter sales were $464 million, an increase of 10 percent compared with 2012. First-quarter 2013 results included approximately $18 million of revenues from a product line transferred from the Security Technologies segment. Excluding the impact of the product line transfer, first-quarter revenues increased by 6 percent on a comparable basis with 2012.
Security Technologies sales of $352 million decreased 7 percent (down by 3 percent on a comparable basis excluding the results of a product line transferred to the Residential Solutions segment) compared with the first quarter of 2012. Revenues in the Americas were down low-single digit percentages, as price improvements were more than offset by lower volumes. Revenues in overseas markets declined by a mid-single digit percentage.
