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Emerson Process Management Reports Second Quarter 2010 Results

Tuesday, May 4, 2010  
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Emerson Process Management sales were down 5 percent in the quarter, including a 13 percent decline in underlying sales and a favorable 4 percent impact each from currency and acquisitions. Segment margin declined slightly to 16.9 percent, compared with the prior year margin of 17.1 percent, reflecting deleverage on lower sales volume, partially offset by the positive impact from the Company’s aggressive cost containment actions. Orders turned positive in the quarter as MRO continued to show improvement, particularly in power and chemical end markets. Oil and gas orders have improved globally and nuclear end markets have gained strength, especially in Asia. During the quarter, Process Management entered into a five-year global framework agreement with Shell to serve as a main automation contractor on future capital projects. Emerson will provide project and support services for main automation systems, including distributed control systems and safety instrumented systems. More…

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