Posted February 4, 2010
Baldor Electric sales down 25%
Baldor Electric Company reported earnings of $59.8 million on sales of $1.52 billion for 2009. For the fourth quarter, sales were down 25% to $356.4 million.
"Incoming order rates have begun to show improvement. As a result, we expect first quarter 2010 sales to be in a range of $380 - $400 million with continued margin improvement on a year-over-year basis. For the full year of 2010, we expect a slight sales increase," said John McFarland, chairman and CEO.
Sales to domestic OEMs declined 30% while sales to domestic distributors declined 14% for the quarter as compared to fourth quarter 2008. Motor sales declined 30% during the quarter as compared to fourth quarter 2008.
