Parker sales decline 6 percent
Parker Hannifin Corporation reported fiscal 2015 third quarter sales decreased 6 percent to $3.16 billion.
The decrease was primarily a result of the impact of changes in foreign currency rates.
Fiscal 2015 third quarter net income was $285.5 million, an increase of 18 percent, compared with $242.5 million in the third quarter of fiscal 2014. Fiscal 2015 third quarter earnings per diluted share were $2.02, an increase of 26 percent, compared with $1.60 per diluted share in the prior year quarter.
"We performed well in the face of an increasingly challenging macro-economic environment, including weakness in key end markets, as well as the significant strengthening of the U.S. dollar," said Tom Williams, chief executive officer. "Segment operating margins were 14.2 percent, reflecting the benefits of our restructuring activities and the adaptability of our businesses to changing market conditions."
Diversified Industrial Segment: North American third quarter sales decreased 1 percent to $1.44 billion and operating income was $235.5 million, compared with $243.0 million in the same period a year ago. International third quarter sales decreased 15 percent to $1.15 billion and operating income was $139.5 million, compared with $126.9 million in the same period a year ago.
Aerospace Systems Segment: Third quarter sales increased 5 percent to $572.4 million and operating income was $73.3 million, compared with $64.0 million in the same period a year ago.
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.
