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News & Press: Headlines

Parker Reports Second Quarter Sales, Net Income and Earnings per Share

Monday, January 26, 2009  
Parker Hannifin Corporation reported results for its fiscal 2009 second quarter ending December 31, 2008. Fiscal 2009 second quarter sales were $2.7 billion, a decline of 5% from $2.8 billion in the same quarter a year ago. Net income declined 26.7% to $155.4 million from $211.9 million in the second quarter of fiscal 2008. Earnings per diluted share declined 22% to 96 cents compared with $1.23 in last year’s second quarter. Cash flow from operations for the first six months of fiscal 2009 was $444.5 million, or 7.7% of sales.

In the Climate & Industrial Controls segment, second-quarter sales declined 21.8% to $179.2 million, and the segment recorded an operating loss of $12.8 million, compared with an operating profit of $5.4 million in the same period a year ago. More…