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by Stephanie Neil, MA Editorial Staff, Diane Himes, MA Editorial Staff
Posted on Friday, November 09, 2007 4:15:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | The two traditionally discrete automation providers have won new sales by moving into process industries; both enter 2008 on the rise. |
| Keywords: | Rockwell Automation, Siemens, fiscal year |
At the close of what has been a double-digit growth fiscal year for most of the big automation vendors, Rockwell Automation and Siemens AG this week reported solid financial numbers driven by strong market demand. Rockwell yesterday announced that 2007 sales were up 10%, to $5 billion, amid a corporate revamp designed to build the company's standing within the process industries. Net income for the year ended Sept. 30, 2007 rose sharply — to $1.49 billion from $607 million in 2006 — mainly as a result of the sale of its Power Systems group earlier in the year. By comparison, income from continuing operations, excluding special charges, grew 15% to $597 million, from $517.3 million in 2006. Fourth-quarter sales jumped 15% year over year to $1.37 billion, but net income in Q4 was flat at about $165 million, the company said. Meanwhile, in the Control Products & Solutions group, sales spiked 20% to $801 million, from $667 million in the same period last year. Company officials credited acquisitions with some of the gains. [Click to continue] |
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