Eaton sales fall by 8 percent
Eaton Corporation reported sales in the first quarter of 2016 were $4.8 billion, 8 percent lower than the same period in 2015.
Net income for the quarter was $404 million, or 88 cents per diluted share, compared to $466 million, or 99 cents, in the same period last year.
Sales for the Electrical Products segment were $1.7 billion, down 1 percent from 2015. Organic sales grew slightly while negative currency translation was 1 percent.
Sales for the Electrical Systems and Services segment were $1.3 billion, down 7 percent from the first quarter of 2015. Organic sales were down 5 percent and currency translation was negative 2 percent.
Hydraulics segment sales were $551 million, down 17 percent from the first quarter of 2015. Organic sales in the quarter declined 14 percent and currency translation was negative 3 percent.
Aerospace segment sales were $445 million, down 4 percent from the first quarter of 2015. Organic sales declined 3 percent and negative currency translation was 1 percent.
The Vehicle segment posted sales of $795 million, down 17 percent compared to the first quarter of 2015. Organic sales declined 13 percent and negative currency translation was 4 percent.
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.
