parkerhannifin

Parker Hannifin buoyed by rebound in orders

Cleveland, Ohio – Parker Hannifin Corp. has reported an 8% year-on-year increase in net income, to $210.2 million (€193.0 million) for the first quarter (to 30 Sept) of its 2017 fiscal year, on sales of $2.87 billion – 4.5% lower the prior-year first quarter.

“This was another solid quarter for Parker,” chairman and CEO Tom Williams declared on 21 Oct. “Despite a decline in sales, we were able to deliver strong decremental marginal return on sales and segment operating margins of 15.0%, reflecting improved performance in…

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