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Parker-Hannifin




Parker-Hannifin is a publicly traded company having a good stock performance result. It’s a fortune 500 stock listed company trading under PH.

Engineer-entrepreneur Arthur L. Parker founded Parker-Hannifin Company.  Parker-Hannifin Corporation manufactures electromechanical controls, fluid power systems and related components. It operates through four segments. These are Industrial, Aerospace, Climate and Industrial Controls, and Others. Donald E. Washkewicz is President and Chief Executive Officer of Parker Hannifin Corporation situated in Cleveland, Ohio, effective July 1, 2001. He had served as President and Chief Operating Officer since February 3, 2000. Washkewicz joined Parker in 1972 as an engineer at the Hose Products Division.

The company is pleased with second quarter results, particularly with their 22 percent sales growth, doubling net income from ongoing operations. They're still in the early stages of a broad-based, worldwide industrial recovery and they're continuing to see positive results in nearly all of the end markets they serve, notably the recent uptick in Aerospace. In the North American Industrial segment, operating income enhanced 105 percent to 99.9 million dollars on sales of 819.2 million dollars. International Industrial units increased operating income 108 percent to 61.6 million dollars on sales of 583.2 million dollars.

In the company's Climate & Industrial Controls segment, second-quarter sales increased 22 percent to 176.5 million dollars and operating income decreased 15 percent to 8.9 million dollars. The decline in operating income is principally the result of a slowdown in production schedules in the automotive market. Aerospace reported a boost in operating income of 42 percent to 49.5 million dollars on sales of 327.0 million dollars.

With annual sales of more than 7 billion dollars, Parker Hannifin is the world's leading expanded 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 48,000 people in 46 countries around the world.

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