Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7% from the same quarter a year ago.
Profit increased 9.8% to $211.9 million from the same quarter a year ago.
Of the 12.7% sales growth this quarter, 4.9% was organic, 2.9% was the result of strategic acquisitions, and the remainder was from the effects of foreign currency exchange rates.
The company made four strategic acquisitions this quarter, adding $223 million in sales. These acquisitions included electrical and production umbilical cables for subsea oil and gas installations; further expansion of aerospace components and equipment capabilities; …
Parker Hannifin Sales Grow 12.7% in 2Q
Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7% from the same quarter a year ago.
Profit increased 9.8% to $211.9 million from the same quarter a year ago.
Of the 12.7% sales growth this quarter, 4.9% was organic, 2.9% was the result of strategic acquisitions, and the remainder was from the effects of foreign currency exchange rates.
The company made four strategic acquisitions this quarter, adding $223 million in sales. These acquisitions included electrical and production umbilical cables for subsea oil and gas installations; further expansion of aerospace components and equipment capabilities; …
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