Parker Hannifin, Cleveland, OH, reported fiscal 2009 first-quarter sales of $3.1 billion, an increase of 10% from the same period a year ago. Profit was up 9% to $250.2 million. Organic sales growth was 4%.
The Win Strategy initiatives we have been implementing over the past seven years have better prepared us to weather this uncertainty in our markets,” said CEO and President Don Washkewicz. “For example, today, we have exposure to a greater number of end markets, many of them less cyclical than before. We also have much better geographic balance with greater than 50% of our industrial segment revenues and profits generated from international markets.
“Additionally, our cost structure is much more flexible than in the past and our ongoing focus on lean …
Parker Hannifin Sales Up 10% in 1Q 2009
Parker Hannifin, Cleveland, OH, reported fiscal 2009 first-quarter sales of $3.1 billion, an increase of 10% from the same period a year ago. Profit was up 9% to $250.2 million. Organic sales growth was 4%.
The Win Strategy initiatives we have been implementing over the past seven years have better prepared us to weather this uncertainty in our markets,” said CEO and President Don Washkewicz. “For example, today, we have exposure to a greater number of end markets, many of them less cyclical than before. We also have much better geographic balance with greater than 50% of our industrial segment revenues and profits generated from international markets.
“Additionally, our cost structure is much more flexible than in the past and our ongoing focus on lean …
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