Baldor Declined 4Q Sales
by February 18, 2002 12:00 am 61 views
On Jan. 31, Baldor Electric Co. of Fort Smith reported decreases in diluted earnings per share and a decline in sales. Baldor –?which makes electric motors, drives and generators –?reported diluted earnings per share of 10 cents for the fourth quarter, down from 29 cents for the same quarter in 2000.
Fourth-quarter net sales were down 15 percent to about $122.5 million from $144.7 million in the comparable period of 2000, according to the company’s year-end report. For the quarter, the company had $3.3 million in net earnings, down 67 percent from $10 million during 2000.
For the year ended Dec. 29, Baldor reported net sales of $557.5 million, down 10 percent from $621.2 million in 2000. The company recorded $22.4 million in net earnings, down 52 percent from $46.3 million in 2000.