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Parker Hannifin Reports Fiscal 2009 Full Year and Fourth Quarter Sales

Monday, August 3, 2009  
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Parker Hannifin Corp. reported results for the fourth quarter and fiscal year ending June 30, 2009. Fiscal 2009 sales were $10.3 billion, a decline of 15.1 percent from $12.1 billion in the previous year. Fiscal 2009 net income declined 46.4 percent to $508.5 million, from $949.5 million in fiscal 2008. Earnings per diluted share declined 43.4 percent to $3.13, compared with $5.53 in the previous year. Cash flow from operations for fiscal 2009 was $1.1 billion, or 11.0 percent of sales, compared with $1.3 billion, or 10.8 percent of sales in the prior year.

In the Climate & Industrial Controls segment, fourth-quarter sales declined 34.6 percent to $189.2 million, and the segment recorded an operating profit of $0.9 million, compared with an operating profit of $20.3 million in the same period a year ago. For the full year, Climate & Industrial Controls sales decreased 24.4 percent to $795.3 million, and the segment reported an operating loss of $3.7 million, compared with an operating profit of $59.5 million in fiscal 2008. More…

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