Minneapolis-based Graco Inc. on Monday reported fourth-quarter net earnings of $49 million, a 10 percent rise from $44.7 million in Q4 2013.
Revenues for the quarter were $306 million, a 13 percent rise year-over-year.
The company said sales increased in all reportable segments and regions.
Fourth quarter Industrial sales increased 13 percent to $195 million, comprising 30 percent of total net sales. Contractor sales increased 9 percent, and lubrication sales went up 16 percent.
For the year, net earnings increased 7 percent to $225.6 million as net sales went up 11 percent to $1.22 billion. Industrial sales increased 12 percent to $727.4 million and comprised 31 percent of total 2014 net sales. Contractor sales increased 10 percent, and Lubrication sales increased 8 percent.
"As we enter 2015, we expect demand levels to continue to be supportive of growth in every reportable segment and geography, although currency fluctuations and ongoing geopolitical instability remain a concern," said Patrick McHale, Graco CEO. "At current exchange rates, unfavorable movement in foreign currencies would be a headwind of approximately 4 percent on sales and 10 percent on earnings in 2015."
Graco designs, makes, and markets equipment to pump, meter, mix, and dispense various fluids and coatings.
