Baldor Electric Co. Announces Earnings
by February 19, 2001 12:00 am 65 views
Baldor Electric Co. in Fort Smith announced record fourth-quarter sales of $144.7 million, up 3 percent from $140.5 million for the same time in 1999. Net earnings for the quarter were $10 million, down 8.3 percent from $10.9 million in 1999, and the quarter’s diluted earnings per share totaled 29 cents, down from 30 cents in 1999.
For fiscal 2000, ended Dec. 30, the company recorded net sales of $621.2 million, up 6.1 percent from $585.5 million in 1999. Net earnings for the year were $46.3 million, up 0.5 percent from $43.7 million in 1999.
To offset increased material costs, Baldor also announced a price increase set to begin in March.
The company also declared a first-quarter dividend of 13 cents per share on common stock.