Cleveland, OH-based motion control technology manufacturer Parker Hannifin reported its 2016 fourth quarter and full year fiscal results on Thursday for the period ended June 30, led by a considerable 2016 sales and profit decrease.
Parker posted 2016 full-year sales of $11.4 billion, a 10.6 percent decline from 2015, while profit of $806.8 million was down 20.3 percent.
For Q4, total sales of $3 billion were down 6 percent year-over-year, while profit increased 34.7 percent to $241.8 million.
By business segment in Q4:
Diversified Industrial North American sales of $1.26 billion were down 11 percent year-over-year and orders decreased 10 percent, while International sales of $1.09 billion were down 4 percent and orders increased 3 percent.
Aerospace Systems ssales of $602.3 million increased 2 percent, while orders increased 14 percent.
Total Parker Hannifin orders decreased 1 percent year-over-year.