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Emerson Achieves Record 2008 Results

Wednesday, November 12, 2008  
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Emerson had record net sales for fiscal 2008 of $24.8 billion, an increase of 12% from the prior year. Sales for the fourth quarter ended September 30, 2008 were $6.7 billion, an increase of 11% over the $6.0 billion for the same period last year. Underlying sales in the quarter grew 7%, excluding 2 % from favorable currency exchange rates and 2% from acquisitions, net of divestitures. Underlying sales in the United States for the fourth quarter increased 1%. International sales increased 13 % in the quarter on an underlying basis with Asia increasing 17%, Latin America increasing 25%, Middle East/Africa increasing 14%, and Europe increasing 6%.

Emerson Process Management delivered an exceptional year, with reported sales increasing 17% to $6.7 billion. Underlying sales growth for the year was 14%, which excludes a favorable impact of 4% from currency translation and a negative 1% impact from the Brooks Instrument divestiture, net of acquisitions. The margin for this segment expanded 90 basis points to 19.6% with significant ongoing strategic investments being made in next generation technologies and geographic expansion. Substantial project wins were also recorded in 2008 for Process Management's Smart Wireless technology, and in the important and growing Chinese nuclear power market. More…

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