Cleveland, OH-based Parker Hannifin Corp., manufacturer of motion and control technologies, reported sales for the fiscal year 2009 were $10.3 billion, a decline of 15.1% from the previous year. Profit for the year fell 46.4% to $508.5 million. "We started the year strongly, however, our performance in the second half of the year reflected the impact of the ongoing global recession, which resulted in significantly reduced order rates," said CEO and President Don Washkewicz.
Fiscal 2009 fourth quarter sales were $2.2 billion, a decline of 33.9% from $3.3 billion in the same quarter a year ago. Profit for the fourth quarter declined 80.4% to $49.5 million from $252.6 million in the fourth quarter of fiscal 2008.
Washkewicz added: "Our fourth quarter performance was influenced by …
