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by Stephanie Neil, MA Editorial Staff
Posted on Thursday, May 24, 2007 5:20:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Sporting a much healthier balance sheet that shows free cash flow and improved margins, the automation company accelerates an initiative to align its Process Systems group with greater services revenue. |
| Keywords: | Invensys, revenue, process control, process automation, Process Systems, production processes, InFusion, manaufacturing managed services |
Automation provider Invensys plc ended its fiscal year 2007 on solid footing, emphasizing that it has finally turned an operational corner that will allow it to invest in core businesses. In announcing its fourth-quarter results today, the company singled out its Process Systems group, which is in the midst of transforming from a product group to software and services, as a growth driver. For the quarter ended March 31, Invensys reported revenue from continuing operations of £694 million, up less than 2% from £682 million in the year-earlier period. Net profit in the quarter surged to £36 million from £12 million a year earlier. For the full year, Invensys generated £2.56 billion in revenue from continuing operations, up 4% year over year. The sale of the company's Building Systems units in the United States and Asia-Pacific sent 2007 net profit soaring to £209 million from £22 million in the prior year. Operating cash flow from continuing operations more than kept pace, growing to £266 million from £209 million in 2006. [Click to continue] |
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