Parker Hannifin March orders edge higher |
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Wed, 04 Apr 2007 23:00
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CLEVELAND (AP) - Parker Hannifin Corp., which makes industrial motion control systems, said Wednesday orders rose 3 percent in March on increased industrial demand in North America and abroad, offset by weaker orders in its climate business.The company posted a 2 percent rise in orders at its industrial North America segment. The industrial international segment saw orders jump 15 percent at the same time.However, orders in Parker Hannifin's climate and industrial controls business slid 15 percent in March.In its aerospace division, orders rose 2 percent on a rolling 12-month average basis.Orders are calculated as a percentage increase over the prior year using a daily average.Shares of Parker Hannifin rose 38 cents to close at $88.10 on the New York Stock Exchange, then picked up 19 cents in aftermarket activity to $88.29.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Correction: Feb. 5 Parker Hannifin story 