Facing yet another quarter of lower-than-expected orders, two principal automation players this week reported downbeat fiscal Q2 results.
Officials from Rockwell Automation and Siemens AG, both of which announced second-quarter numbers yesterday, said weak macroeconomic trends are undermining their ability to generate revenue from manufacturers. And the dark cloud is expected to persist through the rest of the year.
Rockwell reported a 25% nosedive in revenue, to $1.05 billion in the quarter ended March 31. Eighteen percent of the decline owed to organic sales, while 7% came courtesy of currency fluctuations, the company said. The company managed net income of $40.6 million, or $0.29 per share, compared with $142.8 million, or $0.96 per share, in the same period last year.