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by Emily-Sue Sloane, MA Editorial Staff Posted on Wednesday, February 06, 2008 4:09:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | The global automation company came out strong in the first quarter, helped by its Process Management business, and is upbeat about the remainder of 2008. |
| Keywords: | Emerson financials, Emerson earnings |
Fueled by strong international growth, automation vendor Emerson Electric landed double-digit increases in sales and net income for its fiscal 2008 first quarter, ended Dec. 31, 2007. The company's outlook for 2008 remains positive, despite softness in some markets. Net sales were $5.64 billion, up 12% from $5.05 billion a year earlier. Net earnings climbed 27% to $565 million, from $445 million a year ago. On a per-share basis, earnings increased 20% to $0.66, from $0.55 last year. The sales increase included 7% underlying growth, which excludes acquisitions, divestitures, and foreign currency translation. Underlying sales growth in the United States was 5% while international underlying sales increased 9%, including a 16% boost from Asia. The St. Louis-based company completed the sale of the Brooks Instrument unit on Dec. 31, bringing an after-tax gain of $42 million. [Click to continue] |
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