CLEVELAND (Oct.15)—Parker Hannifin Corp. said its quarterly earnings increased slightly because of growth in its industrial business that was matched with declines in its aerospace segment. The firm reported first-quarter net income of $61 million on record sales of $1.59 billion, compared to 2001's first period figures of $60.6 million in earnings on $1.48 billion in sales. Parker predicted earnings for the second quarter would range from 33 to 43 cents per share before business realignment costs. The company projected full-year earnings between $2.20 and $2.50 a share, including past realignment costs.
Parker Hannifin sales, earnings up for first quarter
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