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Parker Hannifin Sales Grow 12.7% in 2Q

Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7% from the same quarter a year ago.
 
Profit increased 9.8% to $211.9 million from the same quarter a year ago.
 
Of the 12.7% sales growth this quarter, 4.9% was organic, 2.9% was the result of strategic acquisitions, and the remainder was from the effects of foreign currency exchange rates.
 
The company made four strategic acquisitions this quarter, adding $223 million in sales. These acquisitions included electrical and production umbilical cables for subsea oil and gas installations; further expansion of aerospace components and equipment capabilities; ...

Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7% from the same quarter a year ago.
 
Profit increased 9.8% to $211.9 million from the same quarter a year ago.
 
Of the 12.7% sales growth this quarter, 4.9% was organic, 2.9% was the result of strategic acquisitions, and the remainder was from the effects of foreign currency exchange rates.
 
The company made four strategic acquisitions this quarter, adding $223 million in sales. These acquisitions included electrical and production umbilical cables for subsea oil and gas installations; further expansion of aerospace components and equipment capabilities; precision electro-pneumatic control systems; and temperature sensing protection equipment.
 
In spite of a soft overall economy in the Industrial North America segment, second-quarter sales increased 3.3% to $991.4 million.
 
In the Industrial International segment, second-quarter sales increased 27.7% to $1.2 billion.
 
In the Aerospace segment, second-quarter sales increased 7.1% to $430.7 million.  
 
In the Climate &Industrial Controls segment, second-quarter sales increased 0.8% to $229.2 million. This segment continues to be impacted by the ongoing weakness in the automotive, residential construction, and heavy duty truck markets.

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