August 4, 2009

Emerson, St. Louis, MO, reported sales for the third quarter ended June 30, were $5.1 billion, down 22% from the same period last year. Profit decreased 36.8% to $387 million. For the nine months ended June 30, sales were $15.6 billion, down 14% from the prior year period. Profit declined 29.4% to $1.2 billion.

Underlying sales in the quarter declined 19%, which excludes a 4% negative impact from currency exchange rates and a 1% positive impact from acquisitions. On a sequential basis, sales in the third quarter 2009 were essentially flat with the second quarter.

Process Management segment sales declined 13% for the quarter to $1.5 billion, including a 9% decline in underlying sales, a negative 7% currency impact, and a positive 3% impact from the Roxar acquisition. Underlying …