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

Monday, January 26, 2009  
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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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