Posted August 5, 2010
Rexnord sales up 11 percent
Rexnord reported that its first quarter sales were $407 million, an increase of $39 million, or 11%, compared with the prior year first quarter.
Income from operations more than doubled year over year to $50 million; income from operations as a percentage of sales increased 560 basis points year over year to 12.2% of sales.
Process and Motion Control sales in the first quarter of fiscal 2011 were $265.5 million, an increase of $31.1 million, or 13.3%, from the prior year first quarter. First quarter 2011 orders increased over 50% from the prior year first quarter as Process and Motion Control businesses experienced double-digit increases in order rates when compared to the prior year first quarter.
The Milwaukee, Wis.-based company's Process and Motion Control business includes gears, couplings, industrial bearings, flattop chain and modular conveyer belts.
