Baldor Posts Record 3Q Sales, Earnings
by October 30, 2000 12:00 am 95 views
On Oct. 12, Fort Smith-based Baldor Electric Co. announced record sales, earnings and earnings per share for the third quarter of 2000. Net sales for the quarter totaled $153.1 million, up 6.1 percent from $144.3 million for third quarter 1999. Annual net sales rose to $470.2 million from $438.6 million for the same nine months in 1999.
A producer of electric motors and drives, the company listed their quarter earnings per share at 33 cents, up 10 percent from 30 cents during third quarter 1999.
Baldor Electric also purchased Pow’r Gard Generator Corp. in Oshkosh, Wis., for an undisclosed amount. The 120,000-SF Oshkosh site will use products from the Baldor plant in Ozark to produce generator sets. Annual Pow’r Gard sales total $25 million.
Pow’r Gard’s administration will remain the same, said John McFarland, president and CEO of Baldor Electric, and the product lines from the plant will expand.