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…
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