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Posted October 29, 2014

Eaton sales up 2 percent

Eaton Corporation reported sales in the third quarter of 2014 were $5.7 billion, 2 percent above the same period in 2013.


Sales growth consisted of 3 percent growth in core sales offset by 1 percent of negative foreign exchange.

Net income of $605 million compared to income of $514 million in the same quarter last year.

Sales for the Electrical Products segment were a record $1.9 billion, up 3 percent over 2013. Operating profits were $330 million. Excluding acquisition integration charges of $8 million during the quarter, operating profits were a record $338 million, up 9 percent over the third quarter of 2013.

Sales for the Electrical Systems and Services segment were a record $1.7 billion, up 1 percent over third quarter of 2013. The segment reported operating profits of $238 million. Excluding acquisition integration charges of $4 million during the quarter, operating profits were $242 million.

Hydraulics segment sales were $733 million, down 1 percent from the third quarter of 2013. Operating profits in the third quarter were $84 million. Excluding acquisition integration charges of $2 million, operating profits were $86 million, a decrease of 11 percent.

Aerospace segment sales were $454 million, up 1 percent over the third quarter of 2013. Sales growth consisted of 6 percent core growth and 1 percent growth from foreign exchange, offset by a 6 percent reduction from the second quarter divestitures. Operating profits in the third quarter were $72 million, up 13 percent over the third quarter of 2013.

The Vehicle segment posted sales of $1.0 billion, up 5 percent compared to the third quarter of 2013. The segment reported operating profits in the third quarter of $176 million, up 9 percent compared to the third quarter of 2013.

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