Printer Friendly

EMERSON REPORTS RECORD RESULTS IN SALES, NET EARNINGS AND EARNINGS PER SHARE

 EMERSON REPORTS RECORD RESULTS
 IN SALES, NET EARNINGS AND EARNINGS PER SHARE
 ST. LOUIS, April 27 /PRNewswire/ -- Sales, net earnings and earnings per share of Emerson Electric Co. (NYSE: EMR) for the second quarter and first six months of fiscal 1992 were the highest for any second quarter and first six-month period in the company's history, it was announced today by Charles F. Knight, chairman and chief executive officer.
 The company's net sales for the three months ended March 31, 1992 were $1,923,930,000, an increase of 1.9 percent versus net sales of $1,888,879,000 for the second quarter a year ago.
 The company's earnings per common share were $0.75 for the second quarter of fiscal 1992, an increase of 4.2 percent over earnings per share of $0.72 for the second quarter of fiscal 1991. Net earnings for the three months ended March 31, 1992 were $167,897,000, an increase of 4.5 percent over net earnings of $160,743,000 for the same period a year ago.
 Emerson's net sales for the six months ended March 31, 1992 were $3,740,901,000, an increase of 1.4 percent over net sales of $3,689,502,000 for the same period a year ago.
 Emerson's earnings per common share for the first six months of fiscal 1992 were $1.43, an increase of 3.6 percent over earnings per common share of $1.38 for the same period a year ago. Net earnings for the first half of fiscal 1992 were $320,529,000, an increase of 4.2 percent over net earnings of $307,521,000 for the first half of fiscal 1991.
 In making the announcement, Knight said, "We are pleased with these record results achieved in our second quarter. The second quarter continued the recovery trends of the first quarter with strong performances in our domestic consumer businesses which offset sluggishness in our capital good businesses and European markets.
 "Strong sales gains were achieved in the fractional motors and the heating, ventilating, and air conditioning businesses fueled by improving residential construction markets. Sales in the appliance components business also showed strong gains primarily due to acquisitions. Sales of consumer tools increased due to strong sales at Sears, Roebuck and Co. Sales in the industrial motors and drives, industrial machinery and equipment and process control businesses were soft due to sluggish capital goods markets and the effect of unfavorable exchange rates. Computer support products sales were down due to continued weakness in these markets.
 "Domestic operations showed good sales improvement over the same quarter of the prior year. International operations were affected by weakness in European economies accompanied by unfavorable exchange rates. Exports continued strong, increasing more than 20 percent from the same quarter of the prior year for the fourth consecutive quarter. Underlying profitability continued at high levels across the corporation.
 "Emerson finished the quarter in a strong financial position and continues to generate strong cash flow. The company's financial strength is a valuable resource which will continue to be used to pursue growth opportunities.
 "Our consumer businesses are seeing strong demand in response to improving consumer confidence and low interest rates. We expect our capital goods businesses to participate in a modest recovery later in the year, as they normally cycle behind the consumer businesses. Our international businesses remain mixed and normally lag the domestic recovery. The company is well positioned to participate in the ongoing recovery," Knight said.
 EMERSON ELECTRIC CO. AND SUBSIDIARIES
 CONSOLIDATED OPERATING RESULTS
 (DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS)
 Three Months Ended March 31, Percent
 1992 1991 Increase
 Net sales $1,923.9 $1,888.9 1.9
 Earnings before
 income taxes 264.4 255.1 3.6
 Income taxes 96.5 94.4 2.2
 Net earnings 167.9 160.7 4.5
 Earnings per
 common share 0.75 0.72 4.2
 Six Months Ended March 31, Percent
 1992 1991 Increase
 Net sales $3,740.9 $3,689.5 1.4
 Earnings before
 income taxes 506.7 488.1 3.8
 Income taxes 186.2 180.6 3.1
 Net earnings 320.5 307.5 4.2
 Earnings per
 common share 1.43 1.38 3.6
 -0- 4/27/92
 /CONTACT: James R. Orso or William K. Anderson of Emerson Electric, 314-982-1700/
 (EMR) CO: Emerson Electric Co. ST: Missouri IN: SU: ERN


KD -- NY075 -- 3159 04/27/92 12:29 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 27, 1992
Words:743
Previous Article:DE TOMASO INDUSTRIES REPORTS NET INCOME FOR 1991
Next Article:CONTINENTAL BANK POSITIONED TO IMPROVE PROFITABILITY; BANK CAN ACHIEVE LONGER-TERM GOAL OF 15 PERCENT ROE: THEOBALD


Related Articles
EMERSON REPORTS 34TH CONSECUTIVE YEAR OF INCREASED EARNINGS AND EARNINGS PER SHARE; HIGHEST FOR ANY FOURTH QUARTER AND YEAR IN COMPANY'S HISTORY
EMERSON REPORTS RECORD FIRST QUARTER SALES, NET EARNINGS AND EARNINGS PER SHARE
EMERSON ELECTRIC CO. REPORTS NET EARNINGS AND EARNINGS PER SHARE - THE HIGHEST FOR ANY FOURTH QUARTER AND YEAR IN THE COMPANY'S HISTORY
EMERSON REPORTS RECORD SECOND QUARTER AND FIRST HALF SALES, NET EARNINGS AND EARNINGS PER SHARE
EMERSON REPORTS RECORD RESULTS IN SALES, NET EARNINGS AND EARNINGS PER SHARE FOR THIRD QUARTER AND FIRST NINE MONTHS
EMERSON REPORTS 36TH CONSECUTIVE YEAR OF INCREASED EARNINGS AND EARNINGS PER SHARE; SALES, NET EARNINGS, EARNINGS PER SHARE HIGHEST FOR ANY 4Q
EMERSON REPORTS RECORD RESULTS IN SALES, NET EARNINGS AND EARNINGS PER SHARE FOR THE THIRD QUARTER AND FIRST NINE MONTHS
EMERSON REPORTS 37TH CONSECUTIVE YEAR OF INCREASED EARNINGS AND EARNINGS PER SHARE
Emerson Electric Reports Record Results In Sales, Net Earnings And Earnings Per Share For Third Quarter And First Nine Months
Emerson Reports Record Sales, 39th Consecutive Year of Increased Earnings and Earnings Per Share

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters