Emerson Reports Third Quarter 2010 Results
Monday, August 9, 2010
Emerson Process Management sales moved positive, up 2
percent in the quarter, which included a 1 percent underlying sales decrease, a
2 percent favorable impact from acquisitions and a positive currency impact of 1
percent. Segment margin improved to 20.6 percent, increasing 5.8 points from
14.8 percent in the prior year quarter, driven primarily by cost reductions,
positive mix, lower restructuring expense and foreign currency transactions. Orders
have continued to strengthen and project quoting activity has increased,
although mega-projects are not expected to have an impact until later in 2011. Process
Management was recently selected as the main automation contractor for Shell’s
floating LNG (liquefied natural gas) facility, potentially the world’s first
floating LNG development. Process Management also opened a $30 million global
innovation center, including the world’s largest flow lab, to develop and test
high-performance valves. More…
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