Parker Hannifin sales decline 6 percent
Parker Hannifin announced fiscal 2016 fourth quarter sales decreased 6% to $2.96 billion compared with $3.14 billion in the same quarter a year ago.
Net income increased 35% to $241.9 million compared with $179.6 million in the fourth quarter of fiscal 2015. Fiscal 2016 fourth quarter earnings per share were $1.77, an increase of 39% compared with $1.27 per share in the prior year quarter.
For the full year, fiscal 2016 sales were $11.4 billion, an 11% decline compared with $12.7 billion in fiscal 2015. Net income for fiscal 2016 was $807.2 million, a 20% decline compared with $1,012.6 million in fiscal 2015. Fiscal 2016 earnings per share were $5.89, a 15% decline compared with $6.97 per share in fiscal 2015.
Diversified Industrial Segment: North American fourth quarter sales decreased 11% to $1.26 billion and operating income was $221.2 million, compared with $228.9 million in the same period a year ago. International fourth quarter sales decreased 4% to $1.09 billion and operating income was $118.6 million, compared with $118.1 million in the same period a year ago.
Aerospace Systems Segment: Fourth quarter sales increased 2% to $602.3 million and operating income was $97.5 million, compared with $93.5 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.
