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.”

Despite the financial optimism, there were hints of some fallout from the global credit crisis, as the 10.7% growth rate was down from earlier quarters. In the fourth quarter of 2007, for instance, the company reported 25% growth. Although some of that came from acquisitions, Schneider at the time reported “organic” growth of 13.9%. And in the third quarter sales grew 28%, fueled in part by the massive American Power Conversion acquisition, while organic growth in that period weighed in at 13.9%. In the first quarter a year ago, organic growth was 13.7%.

For the first quarter of 2008, acquisitions — primarily APC and Pelco — accounted for an additional 6.9% growth.

The strong euro undercut revenue by €197 million, or 5.7%, with the weak dollar reducing revenue from North America by 12.5%, the company said.

Geographically, Europe continued to be the leading contributor to revenue, with €2 billion, followed by North America’s €1.2 billion, Asia Pacific’s €750 million, and €403 million in the rest of the world.

Organic growth was slowest in the United States, at 6.7%, as the residential market declined. But Schneider reported encouraging sales to infrastructure customers in data centers, water treatment, healthcare, and oil and gas companies as well as to the buildings market.

Organic growth was strong in Asia Pacific at 14%. Europe recorded 7.1% growth on the strength of the building and infrastructure markets. Schneider recorded its highest geographical growth in its “rest of world” category, which includes South America and Africa. Sales grew 22.9%, about one-third of which came from the Middle East, where sales to the construction and infrastructure markets were strong.