Johnson Electric Holdings Ltd., a global supplier of motion systems and micromotors and an HVAC OEM, reported half-year sales of $1,118 million, up 8% from the first half of the previous fiscal year.
In the six months ending Sept. 30, 2011, profits were up 9% to a record $102 million.
While the company's automotive business performed well in the six months, Johnson Electric's Industry Products Group (IPG) saw sales down 3%. Johnson Electric said depressed housing markets, high unemployment, and subdued consumer sentiment in several western economies led to lower demand for some motor-using end products such as home appliances, power tools, lawn and garden equipment, and ink-jet printers.
to Daily News