Earnings Climb for Baldor Electric
by October 27, 2003 12:00 am 91 views
Electric-motor manufacturer Baldor Electric Co. of Fort Smith on Oct. 10 reported a third-quarter net earnings increase of 17 percent over levels from the same quarter last year.r
Baldor said earnings reached about $6 million, compared with $5.1 million during the same quarter last year. Earnings per share for the quarter were 18 cents, up 22 percent from about 15 cents during the third quarter last year.r
“For the year, sales are up slightly, with earnings increasing 2 percent and earnings per share increasing 6 percent to 54 cents from 51 cents,” John McFarland, the firm’s president and CEO, said in a news release. “Our cash flow from operations was a record $50 million for the first nine months.”r