Posted April 23, 2010
Gardner Denver's revenues decline
Gardner Denver Inc. announced quarterly earnings of $47.5 million on revenues of $422.2 million.
Net income for the period was $32.0 million. Compared to the three-month period of 2009, revenues declined 9 percent, but orders increased 23 percent. The improvement in orders occurred in most business units and in all regions.
"We were quite pleased by the acceleration in demand for our products," said Barry L. Pennypacker, Gardner Denver's president and CEO. "The improvement was broad-based, providing an indication that the global economy is in the early stages of recovery. Demand for OEM products continued to improve during the quarter, as did requirements for well servicing pumps, and aftermarket parts and services."
