Posted February 1, 2011
Emerson sales up 15 percent
Emerson reported that net sales for the first quarter were $5.5 billion, an increase of 15 percent from the prior year quarter.
Underlying sales growth was balanced globally, with the U.S. increasing 10 percent and international sales increasing 11 percent.
Earnings from continuing operations for the first quarter were 63 cents per share, increasing 15 percent compared with 55 cents in the same period last year.
"Emerson performed well in the first quarter as economies around the world continued to recover," said chairman and chief executive officer David N. Farr. "During the past two years, we focused on improving and repositioning our operations to benefit during what we believe will be a slower global economic recovery. We are seeing the value of that hard work. The foundation of Emerson is very strong, which creates enormous potential for the long term."
By segment, Process Management sales continued to gain momentum, up 12 percent in the quarter; Industrial Automation sales increased 23 percent; Network Power sales increased 21 percent; Climate Technologies sales grew by 3 percent in the quarter with international sales leading the growth; and Tools and Storage sales increased 3 percent in the quarter, reflecting a 3 percent increase in underlying sales.
