Ingersoll-Rand sales up 6 percent
Ingersoll-Rand reported revenues increased 6 percent to $2.8 billion, compared with revenues of $2.7 billion for the 2014 first quarter.
Revenues excluding acquisition and currency increased 8 percent compared with last year. U.S. revenues were up 9 percent on an organic basis (excluding acquisitions) compared to 2014, and revenues from international operations decreased 2 percent (up 7 percent excluding currency and acquisitions).
The company reported net earnings of $51.3 million, or 19 cents per share, down from earnings of $79 million, or 28 cents, in the same period last year.
Industrial segment revenues of $729 million increased 7 percent compared with the first quarter of 2014. Organic revenues increased approximately 4 percent and organic bookings increased 2 percent compared with last year. Revenues for air compressors and industrial products increased by a mid-single digit percentage compared with the first quarter of 2014, with growth in North America partially offset by negative comparisons in overseas markets.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
