Motion and control technology manufacturer Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, reported sales for the first quarter of $2.9 billion, down 12.3 percent year over year. Profit decreased 30.4 percent to $195 million.
North American diversified industrial segment first-quarter sales decreased 13 percent to $1.3 billion, while international sales in this segment decreased 18 percent to $1 billion. Aerospace systems segment first-quarter sales increased 2 percent to $544.6 million.
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