Parker Hannifin sales and earnings decline
Parker Hannifin said its fiscal 2013 sales declined 0.8 percent to $13.0 billion, compared with $13.1 billion in fiscal 2012.
Net income for the year was $948.8 million, compared with $1.15 billion in fiscal 2012.
Fourth quarter sales were $3.43 billion compared with $3.41 billion in the same quarter a year ago. Net income for the quarter was $271.1 million, compared with $302.3 million in the fourth quarter of fiscal 2012.
"Our performance in fiscal year 2013 largely reflects challenging global macro-economic conditions and integration and acquisition related costs," said chairman, CEO and president, Don Washkewicz. "As the year progressed, we continued to adapt to weak conditions and drive stronger operational performance finishing positively with record fourth quarter sales and our highest quarterly segment operating margin for the fiscal year at 14.5 percent."
In Industrial North America, 4Q sales decreased 2.6 percent to $1.3 billion, and operating income was $225.1 million compared with $249.1 million in the same period a year ago.
In Industrial International, 4Q sales increased 3.3 percent to $1.28 billion, and operating income was $156.2 million compared with $163.9 million in the same period a year ago.
In Aerospace, 4Q sales increased 9.5 percent to $620.0 million, and operating income was $86.1 million compared with $85.3 million in the same period a year ago.
In Climate and Industrial Controls, 4Q sales decreased 16.3 percent to $224.6 million, and operating income was $31.1 million compared with $31.5 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.
