Emerson announced net sales for the second quarter ended March 31, 2008 of $6.0 billion, an increase of 12% compared with $5.4 billion in the prior year. Earnings from continuing operations in the second quarter increased 21% to $598 million, or $0.75 per share. This represents an increase of 23% in earnings per share from the $0.61 earned in the same period last year. Results for the quarter include a $52 million impairment charge relating to Emerson’s intent to sell its European appliance motor and pump business within the next 12 months.
Industrial Automation revenues increased 11% in the quarter, Network Power sales grew 27%, Climate Technologies sales increased 1%, while Appliance and Tools sales decreased 6% in the quarter.