Sales totaling $3.69 billion were up 9% compared to the third quarter of 2012. Net income for the quarter was $173.7 million, up slightly from $172.9 million recorded in the same period of the previous year.
The agreement would make it easier for Canadian companies to invest in and sell to the 28-member EU and its 500 million consumers, and vice versa. The deal will lower tariffs, streamline regulation, and cut red tape that hampers trade.
Industrial Internet Predictivity technologies will enable global industries to achieve outcomes such as minimal unplanned downtime, increased productivity, preventive maintenance, lower fuel costs, and reduced emissions.
Yngen has been a member of the Camfil board for the last year and brings to his new position a solid international business background from several industries. Prior to joining Camfil, he worked for the Electrolux Group, with management responsibility for its European operations, and was later appointed CEO of the Husqvarna Group.
The budget agreement Congress reached Wednesday cheered investors and removed the threat of a catastrophic debt default that could have triggered another recession. Yet the temporary nature of the deal means a cloud will remain over a sluggish U.S. economy that was further slowed by the government's partial shutdown.
Sales of $753.2 million increased $41.6 million, or 5.8%, from 2012 levels; excluding $15.6 million of sales from the May 2013 acquisition of Challenger Lifts, Inc. and $7.3 million of unfavorable foreign currency translation, organic sales increased 4.7%.
The ISA Manufacturers Index increased from 61.6% in August to 61.7% in September, while the Distributor Index rose from 58.6% to 64.8% during the same period. For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
The company acquired Pro Epta, based in Mexico City, a leading distributor of catering equipment throughout Mexico, principally to luxury hotels and restaurants.
Revenues increased 6% to a record $1.1 billion, reflecting an 8% increase in air conditioning and heating equipment (65% of sales), a 3% increase in other HVAC products (31% of sales) and a 1% increase in commercial refrigeration products (4% of sales).
Headquartered in Ipswich, MA, Todd Tool is a distributor of cutting tools, abrasives, coolants and maintenance fluids for customers in the aerospace, major defense, semi-conductor and medical markets
The Dow Jones industrial average rose 166 points, or 1.1 percent, to 15,333 in morning trading following a report that House Speaker John Boehner had agreed to take up a Senate compromise on raising the debt ceiling.
The National Association of Home Builders/Wells Fargo builder sentiment index slipped two points to 55. The September reading was revised down from an initial reading of 58.
Overall Industrial segment profit excluding charges was 14.5% down from the 3Q 2012 rate of 15.4% due primarily to investments in organic growth initiatives and the mix impact of Infastech’s modestly below line average margins.
Buffett said he thinks it would be absurd for American politicians to do anything to damage the country's reputation for paying its bills that has been established over the past 237 years.
Sales of $2.4 billion increased 5% versus $2.3 billion in the third quarter of 2012. Net earnings for the third quarter increased 3% to $211 million versus $155 million in 2012. Earnings per share of $2.95 increased 37% versus $2.15 in 2012.
The company says the move will help make the vehicle more affordable for the U.S. Army and Marine Corps. The Sealy plant in Texas where the prototype was made will close.
Sales in the third quarter in local currencies increased by 1% in Europe, by 9% in Latin America, by 5% in Asia and by 8% in Middle East and Africa. In North America they decreased by 2%.
The Supreme Court has agreed to consider whether the Environmental Protection Agency overstepped its authority in developing rules aimed at cutting emissions of six heat-trapping gases from factories and power plants.
"The succession moves we are announcing today place proven Goodyear leaders in key roles that will enable us to stay on our Strategy Roadmap and maintain our positive momentum," said Goodyear Chairman and Chief Executive Officer Richard J. Kramer.
Established in 1945, the Hammond Company is a local, full-service distributor of cutting tools and accessories. Over the years they have developed a reputation for hands-on application expertise and for offering a large on-the-shelf inventory.