Posted August 3, 2010
Parker sales up 26 percent
Parker Hannifin Corporation reported fiscal 2010 fourth quarter sales were $2.8 billion, an increase of 26.0 percent from $2.2 billion in the same quarter a year ago.
Net income for the fourth quarter was $222.2 million, compared with $49.5 million in the fourth quarter of fiscal 2009. Earnings per diluted share for the quarter were $1.35, compared with 31 cents in last year's fourth quarter.
Fiscal 2010 sales were $10.0 billion, a decline of 3.1 percent from $10.3 billion in the previous year. Fiscal 2010 net income increased 9.0 percent to $554.1 million from $508.5 million in fiscal 2009. Earnings per diluted share increased 8.6 percent to $3.40, compared with $3.13 in the previous year.
In the Industrial North America segment, fourth-quarter sales increased 33.1 percent to $1.0 billion, and operating income was $162.9 million, compared with $53.7 million in the same period a year ago. For the full year, Industrial North America sales declined 3.0 percent to $3.6 billion, and operating income increased 23.3 percent to $487.1 million, compared with fiscal 2009.
