Parker Hannifin Monthly Orders Increase Across the Board
Parker Hannifin Corporation reported orders for the month of August in the company's industrial and aerospace segments. Orders for the North American Industrial businesses increased 17 percent over the same month last year,...
...while Rest-of-World Industrial orders increased 20 percent. In the Climate and Industrial Controls business (CIC), order rates were seven percent higher, and orders at Parker Aerospace were 20 percent higher compared with last year.
The North American Industrial segment benefited from order strength across all major markets, led by construction and machine tool. Distribution continues to gain momentum. In the Rest-of-World Industrial units, all regions reported year-over-year increases. CIC experienced increased activity in residential air conditioning, partially offset by a decrease in automotive orders.
Aerospace orders received a boost from both commercial aftermarket recovery and defense.
Orders provide near-term perspective on the company's outlook, but are not in themselves an indication of future performance. All comparisons are at constant currency exchange rates, with the prior year restated to the current- year rates. All exclude acquisitions until they can be reflected in both the numerator and denominator. Aerospace comparisons are rolling 12-month average computations to mitigate volatility within monthly figures.
With annual sales of more than $7 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs more than 48,000 people in 44 countries around the world. For more information, visit the company's web site or its investor information site.
Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. All statements regarding future performance, earnings projections, events or developments are forward-looking statements. It is possible that the future performance and earnings projections of the company and individual segments may differ materially from current expectations, depending on economic conditions within both its industrial and aerospace markets, and the company's ability to achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, and growth initiatives. A change in economic conditions in individual markets may have a particularly volatile effect on segment results. Among the other factors which may affect future performance are: changes in business relationships with and purchases by or from major customers or suppliers, including delays or cancellations in shipments; uncertainties surrounding timing, successful completion or integration of acquisitions; threats associated with and efforts to combat terrorism; competitive market conditions and resulting effects on sales and pricing; increases in raw-material costs that cannot be recovered in product pricing; and global economic factors, including currency exchange rates, difficulties entering new markets and general economic conditions such as interest rates. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them.
Source: Parker Hannifin Corp