Parker Reports Increase in Total Orders for June; Reaffirms Move to Quarterly Orders Reporting in Fiscal Year 2008
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CLEVELAND, July 9 -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today reported an increase of 6 percent in total orders for the month of June compared to the same month a year ago. The company also reaffirmed its previously announced intention to report orders on a quarterly basis beginning in fiscal year 2008.
In addition to the increase of 6 percent in total orders for the month of June, Parker reported the following orders by operating segment:
o Orders increased 1 percent in the Industrial North America segment
versus June a year ago.
o Orders increased 17 percent in the Industrial International segment
versus June a year ago.
o Orders increased 8 percent in the Aerospace segment on a rolling 12
month average basis.
o Orders decreased 5 percent in the Climate and Industrial Controls
segment versus June 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.
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 www.parker.com/, or its investor information site at www.phstock.com/.
SOURCE: Parker Hannifin Corporation
CONTACT: Media, Christopher M. Farage, Vice President, Corp.
Communications, +1-216-896-2750, or cfarage@parker.com; of Parker Hannifin Corporation
Web site: www.phstock.com/
