CLEVELAND (Aug. 1) — Parker Hannifin Corp. posted record results in sales, earnings and cash flow from operations in fiscal year 2006, which closed June 30.
The company delivered strong growth in revenues and the fourth quarter as annual sales topped $9 billion for the first time in its 88-year history. For the year, revenue reached a record $9.39 billion, an increase of 16.3 percent over fiscal 2005, with organic growth driving nearly half of the increase.
Net income was $673.2 million, up from $604.7 million the year before. Cash flow from operations reached a record $954.6 million, or 10.2 percent of sales, surpassing last year´s record of $853.5 million, Parker reported.
In the fourth quarter, net income was $193.9 million on sales of $2.62 billion, up from earnings of $161.4 million on sales of $2.17 billion in the like period of 2005.
Parker´s rubber and elastomeric products include insulators, seals, gaskets, O-rings, spacers and washers, bushings, conductive extrusions, custom molded rubber shapes, hose products, and molded assemblies.