Motion Control Resources
Parker Releases Supplemental Information on New Global Technology Platforms
Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today released supplemental sales information on three global technology platforms within its Diversified Industrial Segment. As previously announced, the company will have two reporting segments beginning in fiscal year 2014, Diversified Industrial and Aerospace Systems. The company will continue to provide supplemental sales and profitability data for North America and International within the Diversified Industrial Segment.
The global technology platforms - Motion Systems, Flow and Process Control, and Filtration and Engineered Materials - are strategically aligned based on complementary technologies. The Motion Systems platform includes the company's hydraulics, pneumatics and electromechanical product lines produced by the Hydraulics and Automation groups. The Flow and Process Control platform includes instrumentation, connectors and refrigeration offerings from the Fluid Connectors and Instrumentation groups. The Filtration and Engineered Materials platform includes filtration systems, filters, and sealing and shielding products produced by the company's Filtration and Engineered Materials groups. Historical quarterly sales data is included in this press release and additional information is included in an Investor Fact Book, linked here and available at Parker's investor information web site at www.phstock.com.
"Parker has been transformed significantly through the successful implementation of the Win Strategy," said Chairman, CEO and President, Don Washkewicz. "We believe providing this additional information will bring more transparency to investors about Parker's underlying businesses and will broaden awareness of our competitive strengths. The information highlights our global presence, sales channels, end markets, products and applications and showcases the breadth of technologies across our Diversified Industrial Segment that we draw on to meet our customers' needs."
With annual sales of $13 billion in fiscal year 2013, 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 mobile, industrial and aerospace markets. The company employs approximately 58,000 people in 49 countries around the world. Parker has increased its annual dividends paid to shareholders for 57 consecutive fiscal 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 web site at www.phstock.com.
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, including its individual segments, may differ materially from current expectations, depending on economic conditions within its mobile, industrial and aerospace markets, and the company's ability to maintain and achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, actions taken to combat the effects of the current economic environment, and growth, innovation and global diversification initiatives. A change in the economic conditions in individual markets may have a particularly volatile effect on segment performance. Among other factors which may affect future performance are: changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments, disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the anticipated closing of the previously announced joint venture with GE Aviation; the determination to undertake business realignment activities and the expected costs thereof and, if undertaken, the ability to complete such activities and realize the anticipated cost savings from such activities; the ability to realize anticipated benefits of the consolidation of the Climate and Industrial Controls Group; threats associated with and efforts to combat terrorism; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; 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 insurance and employee retirement and health care benefits; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them unless otherwise required by law.