Parker Reports Increase in Total Orders for December
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CLEVELAND, Jan. 4 -- Parker Hannifin Corporation (NYSE: PH) today reported an increase of 6 percent in total orders for the month of December 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.
In addition, Parker reported the following orders by operating segment:
oOrders in the Industrial North America segment decreased 2 percent
versus December a year ago.
oOrders in the Industrial International segment increased 17 percent
versus December a year ago.
oOrders in the Aerospace segment increased 10 percent on a rolling 12
month average basis.
oOrders in the Climate and Industrial Controls segment decreased 1
percent versus December 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, 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 50 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 www.parker.com/, or its investor information site at www.phstock.com/.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO
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PRN Photo Desk, photodesk@prnewswire.com
SOURCE: Parker Hannifin Corporation
CONTACT: Media, Christopher M. Farage, Vice President, Corp. Communications, +1-216-896-2750, or cfarage@parker.com, or Financial Analysts, Pamela Huggins, Vice President - Treasurer, +1-216-896-2240, or phuggins@parker.com, both of Parker Hannifin Corporation
Web site: http://www.phstock.com/
