Parker Hannifin Sales Up 10% in 1Q 2009 - Modern Distribution Management

Log In

Parker Hannifin Sales Up 10% in 1Q 2009

Parker Hannifin, Cleveland, OH, reported fiscal 2009 first-quarter sales of $3.1 billion, an increase of 10% from the same period a year ago. Profit was up 9% to $250.2 million. Organic sales growth was 4%.
 
The Win Strategy initiatives we have been implementing over the past seven years have better prepared us to weather this uncertainty in our markets," said CEO and President Don Washkewicz. "For example, today, we have exposure to a greater number of end markets, many of them less cyclical than before. We also have much better geographic balance with greater than 50% of our industrial segment revenues and profits generated from international markets.
 
"Additionally, our cost structure is much more flexible than in the past and our ongoing focus on lean ...
Author
Date

Parker Hannifin, Cleveland, OH, reported fiscal 2009 first-quarter sales of $3.1 billion, an increase of 10% from the same period a year ago. Profit was up 9% to $250.2 million. Organic sales growth was 4%.
 
The Win Strategy initiatives we have been implementing over the past seven years have better prepared us to weather this uncertainty in our markets,” said CEO and President Don Washkewicz. “For example, today, we have exposure to a greater number of end markets, many of them less cyclical than before. We also have much better geographic balance with greater than 50% of our industrial segment revenues and profits generated from international markets.
 
“Additionally, our cost structure is much more flexible than in the past and our ongoing focus on lean enterprise is delivering continuing productivity improvements. While the economic outlook for the near future remains uncertain, Parker is better able to adapt to changing circumstances in our operations than in previous downturns.”
 
Segment Results
In the Industrial North America segment, first-quarter sales increased 10.1% to $1.1 billion, and operating income increased 3.4% to $160.5 million, compared with the same period a year ago.
 
In the Industrial International segment, first-quarter sales increased 11.1% to $1.2 billion, and operating income increased 10.6% to $203.0 million, as compared with the same period a year ago.
 
In the Aerospace segment, first-quarter sales increased 12% to $478.5 million, and operating income increased 18.7% to $68.1 million, as compared with the same period a year ago.
 
In the Climate &Industrial Controls segment, first-quarter sales increased 1.1% to $255.9 million, and operating income remained the same at $15.5 million, as compared with the same period a year ago.
 
Orders
In addition to financial results, Parker also reported an increase of 1% in total orders for the quarter ending Sept. 30, 2008, compared with the same quarter a year ago.
 
Orders increased 2% in the Industrial North America segment, compared with the same quarter a year ago.
 
Orders declined 4% in the Industrial International segment, compared with the same quarter a year ago.
 
Orders increased 9% in the Aerospace segment on a rolling 12 month average basis.
 
Orders increased 5% in the Climate and Industrial Controls segment, compared with the same quarter a year ago.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.