Emerson Process Management Second Quarter Sales Strong Internationally

Emerson Process Management sales decreased 4 percent in the second quarter, due to the stronger U.S. dollar. Underlying sales grew 3 percent on top of a double-digit increase in the prior year quarter, and currency translation negatively impacted sales by 7 percent. Underlying sales growth was strong internationally, with Asia up 21 percent in the quarter. The margin for Process Management declined 100 basis points to 16.9 percent with unfavorable product mix partially offset by cost reduction efforts. Continued investments were made in next-generation technology programs and global infrastructure expansion. In April, Emerson completed the acquisition of Roxar ASA, a global supplier of measurement solutions and software for reservoir production optimization, enhanced oil and gas recovery and flow assurance. More…