Hubbell Inc. (NYSE: HUBA, HUBB), Shelton, CT, reported sales for the first quarter of $809.7 million, an increase of 7 percent over the same period a year ago. Profit declined 2.8 percent to $62.4 million.
"End markets performed largely as expected, as notable strength in non-residential was partially offset by ongoing weakness in energy-related industries," said David G. Nord, president and CEO. "We are progressing nicely with our cost reduction efforts, which include rationalizing facilities, reducing personnel cost and streamlining back-office processes. We are focused on continuing to identify and execute opportunities to improve our cost structure and position the company over the long-term for strong conversion on top line growth."
