As earnings season gets into full swing, two automation companies reported their first-quarter results, reflecting varying degrees of success.
Growth at French automation and energy stalwart Schneider Electric slowed in the first quarter ended March 31, 2008, as the company today reported a 10.7% increase in sales to €4.3 billion.
The company also said it anticipates organic growth of 6% to 8% for the full year 2008, a modest rate by Schneider standards. Keeping with its standard financial reporting practice, Schneider did not reveal profit for the quarter. It based its €4.3 billion in revenue on what it calls a “current structure and exchange rate basis.”
Chairman and CEO Jean-Pascal Tricoire called the results for the Rueil Malmaison-based company “in line with forecasts.” In an upbeat prepared statement, he noted, “Our performance is fueled by our two engines for growth: broad exposure in emerging countries and unique positioning in energy efficiency.” He also singled out specific market segments, including data centers, water treatment, and hospitals, as “healthy growth drivers.”