Pentair, Inc., Golden Valley, MN, sales increased 5% in the first quarter 2007 to $808 million from the first quarter of 2006. Profit was flat from the same period a year ago.
Pentair reported challenges due to slowing North American residential housing starts and headwinds in the electronic markets, as well as consolidation in the telecommunication industry.
The Water Group delivered strong year-over-year sales performance with sales of $555 million, up 7% over the same period last year. Organic sales growth, excluding the Jung Pump acquisition, was 5%.
Continued growth in China and in emerging markets in Asia-Pacific as well as continued success in penetrating markets in Europe and the Middle East contributed to Water’s overall growth. Sales in Asia-Pacific grew 27%. Sales in Europe grew 36%, or 14% excluding the Jung Pump acquisition and 6% also excluding currency exchange.
Strong sales in the commercial and industrial pump markets continued; however, growth was offset by weakness in residential pump sales. Overall, North American pump sales were down 1%.
Sales in North American Filtration markets were flat, with growth in industrial and food service filtration markets offset by slowing residential markets.
Pool and Spa sales were approximately 11% higher than the same period in 2006.