Parker reports strong third quarter

CLEVELAND (May 12)—Parker-Hannifin Corp. reported third-quarter sales today of $1.39 billion, an 11-percent leap over the year-earlier quarter. Net income for the quarter surged 39.5 percent to $106.7 million from $76.5 million last year before currency adjustments. For the nine months ended March 31, Parker´s net sales increased 5.5 percent and operating income increased 13.5 percent compared to fiscal 1999. The company attributed the year-to-date growth primarily to increased volume in its North American Industrial operations.