Parker Hannifin posts $673.2 m profit for the year

Cleveland, Ohio -- Rubber and elastomer manufacturer Parker Hannifin Corp. has posted record results in sales, earnings and cash flow from operations in the fiscal year ending on 30 June.

The company delivered strong growth in revenues as annual sales topped $9000 million (€7030 million) for the first time in its 88-year history.

For the year, revenue reached a record $9390 million, an increase of 16.3 percent from the 2005 fiscal year, 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 Hannifin reported.

In the fourth quarter, net income was $193.9 million on sales of $2620 million, up from earnings of $161.4 million on sales of $2170 million in the same period of 2005.

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.

From Rubber & Plastics News (A Crain publication)