|
by Emily-Sue Sloane, MA Editorial Staff Posted on Wednesday, May 07, 2008 3:30:31 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | International presence, cost containment programs keep automation vendor on the growth path. |
| Keywords: | Emerson Electric, Emerson automation |
Emerson Electric Co. stuck to its growth path in its fiscal second quarter, turning in double-digit year-over-year increases in both revenue and net income. The automation vendor’s international presence and operational efficiencies provided the cover needed to shake off weakness in U.S. and European markets.
In the quarter ended March 31, 2008, Emerson posted sales of $6.02 billion, up 12% from $5.39 billion a year ago. Underlying sales growth was reported at 6%, which excludes the 4% effect of favorable foreign currency exchange rates and the 2% impact from acquisitions.
As in the first quarter, international sales led the way, delivering 10% underlying increases. Regionally, Asia and Latin America both contributed 18% underlying sales growth, while Middle East/Africa grew 19%. Underlying sales in the United States accounted for roughly 1%, and Canada and Europe each represented 2%.
[Click to continue] |
|
|
|
|