Graco Inc. (NYSE: GGG), Minneapolis, MN, reported sales for the first quarter of $340.6 million, an 11.7 percent increase from the same period a year ago. Profit increased 53.3 percent to $60.7 million.
"I am pleased with Graco's performance in the first quarter, where we achieved organic, constant currency growth in every region and reportable segment, as well as growth within every segment in every region," said Patrick J. McHale, Graco's president and CEO. "Profitability was strong in the first quarter, reflecting improved sales volumes, increased gross margin performance and solid operating expense leverage.
