Thomas &Betts Corp., Memphis, TN, reported sales of $641.3 million for the second quarter of 2008, up 26.4% over second quarter 2007. Profit increased 68% to $147.8 million.
For the first six months ended June 30, 2008, sales increased 26% to $255 million over the first six months 2007. Profit totaled $186.1 million, an increase of 55%.
Acquisitions contributed $114.1 million to the quarterly sales increase while foreign currency benefited sales by approximately $18 million. Commodity- and energy-related price increases offset lower underlying sales volumes in markets affected by the slowdown in residential construction.
Thomas &Betts is a designer and manufacturer of electrical components used in industrial, commercial, communications and utility …
Thomas & Betts Sales Benefit from Acquisitions, Price Increases
Thomas &Betts Corp., Memphis, TN, reported sales of $641.3 million for the second quarter of 2008, up 26.4% over second quarter 2007. Profit increased 68% to $147.8 million.
For the first six months ended June 30, 2008, sales increased 26% to $255 million over the first six months 2007. Profit totaled $186.1 million, an increase of 55%.
Acquisitions contributed $114.1 million to the quarterly sales increase while foreign currency benefited sales by approximately $18 million. Commodity- and energy-related price increases offset lower underlying sales volumes in markets affected by the slowdown in residential construction.
Thomas &Betts is a designer and manufacturer of electrical components used in industrial, commercial, communications and utility …
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- Filed In: Electrical, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors
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