CLEVELAND, May 3 /PRNewswire-FirstCall/ -- Parker Hannifin Corporation
(NYSE: PH), the global leader in motion and control technologies, today
reported an increase of 3 percent in total orders for the month of April
compared to the same month a year ago. Orders are calculated as a
percentage increase over the prior year using a daily average. The company
derives orders from a wide variety of global end markets which the company
serves directly and through a network of thousands of distributor
locations.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO)
In addition, Parker reported the following orders by operating segment:
-- Orders decreased 4 percent in the Industrial North America segment
versus April a year ago.
-- Orders increased 11 percent in the Industrial International segment
versus April a year ago.
-- Orders increased 8 percent in the Aerospace segment on a rolling 12
month average basis.
-- Orders increased 1 percent in the Climate and Industrial Controls
segment versus April a year ago.
Orders provide near-term perspective on the company's outlook,
particularly when viewed in the context of prior and future monthly order
rates. However, orders are not in themselves an indication of future
performance. All comparisons are at constant currency exchange rates, with
the prior year restated to the current-year rates. All exclude acquisitions
until they can be reflected in both the numerator and denominator.
Aerospace comparisons are rolling 12-month average computations. The Total
Parker orders number is derived from a weighted average of the
year-over-year monthly percent change in orders for the Industrial North
America, Industrial International, and Climate and Industrial Controls
segments, and the year- over-year 12-month rolling average of orders in the
Aerospace segment. Comparisons are made using a daily average based on the
number of workdays in the respective periods. A varying number of workdays
year over year could influence the daily averages and could produce a
different result than if the comparison was based on total order dollars
for the periods.
Comparative data on current and historical orders is available on the
company's investor information web site, http://www.phstock.com. To access
the information, first click on "Newsroom" and then click on the "Monthly
Orders" link. Parker's investor web site also offers registration for
investors to receive automatic e-mail notification of all upcoming news,
events and information from the company.
With annual sales exceeding $9 billion, Parker Hannifin is the world's
leading diversified manufacturer of motion and control technologies and
systems, providing precision-engineered solutions for a wide variety of
commercial, mobile, industrial and aerospace markets. The company employs
more than 57,000 people in 43 countries around the world. Parker has
increased its annual dividends paid to shareholders for 51 consecutive
years, among the top five longest-running dividend-increase records in the
S&P 500 index. For more information, visit the company's web site at
http://www.parker.com, or its investor information site at
http://www.phstock.com.
Forward-Looking Statements:
Forward-looking statements contained in this and other written and oral
reports are made based on known events and circumstances at the time of
release, and as such, are subject in the future to unforeseen uncertainties
and risks. All statements regarding future performance, earnings
projections, events or developments are forward-looking statements. It is
possible that the future performance and earnings projections of the
company and individual segments may differ materially from current
expectations, depending on economic conditions within both its industrial
and aerospace markets, and the company's ability to achieve and maintain
anticipated benefits associated with announced realignment activities,
strategic initiatives to improve operating margins, and growth and
innovation initiatives. A change in economic conditions in individual
markets may have a particularly volatile effect on segment results. Among
the other factors which may affect future performance are: changes in
business relationships with and purchases by or from major customers or
suppliers, including delays or cancellations in shipments; uncertainties
surrounding timing, successful completion or integration of acquisitions;
threats associated with and efforts to combat terrorism; competitive market
conditions and resulting effects on sales and pricing; increases in
raw-material costs that cannot be recovered in product pricing; the
company's ability to manage costs related to employee retirement and health
care benefits and insurance; and global economic factors, including
manufacturing activity, air travel trends, currency exchange rates,
difficulties entering new markets and general economic conditions such as
inflation and interest rates. The company makes these statements as of the
date of this disclosure, and undertakes no obligation to update them.
SOURCE Parker Hannifin Corporation
 back to top
Related links:
http://www.phstock.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Media - Christopher M. Farage, Vice
President, Corp. Communications, +1-216-896-2750,
cfarage@parker.com, or Financial Analysts, Pamela Huggins, Vice
President - Treasurer, +1-216-896-2240, phuggins@parker.com
|
