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by Stephanie Neil, MA Editorial Staff
Posted on Thursday, April 27, 2006 6:57:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Rockwell earns $146.5 million on revenues of $1.3 billion in the period and ups its guidance for the second half of the fiscal year; Siemens' Automation & Drives business posts record results. |
Rockwell Automation and Siemens AG today disclosed strong second-quarter financial results, avoiding the "seasonal slowdown" that typifies the March period and serving up proof that manufacturers are indeed investing in new technology. For the period ended March 31, Rockwell reported net income of $146.5 million on sales of $1.3 billion, a revenue increase of 13% year over year. Those results, however, were up only marginally from the $145.7 million in net earnings generated on $1.3 billion in sales in the prior period. The Q2 earnings reflect a $3 million after-tax charge related to pending legal matters, which the company declined to detail. Siemens, meanwhile, reported net income of €887 million on sales of €21.5 billion for the second quarter, ended March 31. The growth was fueled by record results posted by its Automation & Drives (A&D) business. The overall fiscal second quarter results represented a 21% boost in sales from the prior-year period and a 14% increase in year-over-year earnings. It also represented a slight increase over the previous quarter's earnings of €813 billion on revenues of €20.7 billion. [Click to continue] |
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