CLEVELAND (Sept. 20)—Parker Hannifin Corp. should meet or exceed its projected earnings range of 35 to 45 cents per share before business-realignment costs for the first quarter ending Sept. 30, CEO Don Washkewicz said Sept. 19. The Cleveland-based firm also still expects earnings for the full fiscal year ending June 30, 2003, to be between $2.20 and $2.50 per share before business-realignment costs of severance, operating improvements, plant closures and consolidations in its industrial segment, he said. Parker is beginning to realize benefits from realignment activities, but lingering effects of the recession prevent the company from projecting a change in its current-year outlook, Washkewicz said.
Parker Hannifin expects to meet quarterly, full-year projections, CEO says
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