Parker Hannifin reports record year-end sales, earnings

From Rubber & Plastics News

Cleveland, Ohio-Parker Hannifin Corp. posted new records in sales, earnings and cash flow from operations for fiscal-year 2005, which ended 30 June.

For the year, Cleveland-based Parker´s revenues reached a record $8200 million (Euro 6710 million) a rise of 17.4 percent from fiscal 2004. The company reported income from continuing operations of $548 million, up 63 percent from the same period of 2004.

In the fourth quarter, the firm had net sales of $2200 million, a 12.5-percent increase over the same period a year ago, and income from continuing operations of $161.4 million, a 31.7-percent boost.

Parker projects earnings from continuing operations for fiscal-year 2006 to range from $4.80 to $5.25 per diluted share. "Nearly all of our major end markets are performing very well and we are particularly pleased with the strong demand we're seeing in (the) Aerospace (business group). The performance of our traditional markets, plus the potential of our new growth platforms, lead us to project another year of solid sales and earnings in fiscal 2006," said Don Washkewicz, Parker chairman and ceo.

Parker's rubber and elastomeric products include insulators, seals, gaskets, O-rings, spacers and washers, bushings, conductive extrusions, custom moulded rubber shapes, hose products, and moulded assemblies.