Baldor Electric Co.
by April 2, 2001 12:00 am 54 views
On March 20 Baldor Electric Co. of Fort Smith announced lower-than-expected estimates of first quarter earnings. Now anticipated to be 21 cents-25 cents, the earnings per share will be at least 28 percent less than the record 35 cent earnings from the first quarter of 2000.
With about 4,000 employees in 22 locations worldwide, Baldor had sales of $621.2 million in 2000, up 6 percent from $585.6 million in 1999. Net earnings for 2000 reached a record $46.3 million, climbing 6 percent from $43.7 million in 1999.
Baldor’s Fort Smith plant manufactures electric motors and drives.