CLEVELAND (Jan. 17, 2008) — Parker Hannifin Corp. posted net earnings of $211.9 million on sales of $2.83 billion during the fiscal second quarter ended Dec. 31, the company announced.
The results compared to net income of $193 million on sales of $2.51 billion posted in the like quarter of fiscal 2007.
Through six months, the Cleveland-based company reported net sales of $5.62 billion, up 10.9 percent from the year before. Net earnings rose 9.4 percent during the period to $441.5 million.
Parker is performing very well within a challenging economic environment in North America, said Don Washkewicz, the company's chairman, president and CEO. Providing premier customer service is the firm's primary goal, and measures of its customer service demonstrate that it has the capability to ship quality products on time to customers all over the world, he said.
The company's total order growth rate for the quarter reached double digits, and orders remained strong across most segments and showed growth in Europe, Asia, Latin America and North America, Washkewicz said.
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.