Manufacturing productivity increases
Airgas earnings up 47 percent
Interline Brands reports drop in sales
Emerson reports 12 percent sales gain
Milacron posts loss

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Manufacturing productivity increases
05/07/08 -- The nation’s manufacturing productivity increased 4.1 percent in the first quarter of 2008 as output decreased 0.3 percent and hours worked dropped 4.2 percent (seasonally adjusted annual rates). This 4.2 percent hours decrease reflected a 2.8 percent decline in durable goods hours and a 6.6 percent drop in hours worked in nondurable goods industries. Productivity rose 2.3 percent in durable manufacturing and 7.0 percent in nondurable manufacturing.

The hourly compensation of all manufacturing workers increased 6.7 percent during the first quarter of 2008 and real hourly compensation rose 2.3 percent, according to the Bureau of Labor Statistics. Click here for more information.

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Airgas earnings up 47 percent
05/06/08 -- Airgas reported quarterly net earnings grew 47 percent to $64.2 million, or 76 cents per diluted share, compared to $43.7 million, or 54 cents per diluted share, in the prior year. Fourth quarter sales grew 27 percent from the prior year to $1.1 billion, with acquisitions contributing 19 percent of the growth. Total same-store sales increased 8 percent in the quarter, with hardgoods up 4 percent and gas and rent up 11 percent.

"Despite a slowing economy, our strategic product categories, which focus on the healthcare, research, environmental, and food and beverage markets, posted 11 percent organic growth in the quarter," said Airgas chairman and CEO Peter McCausland. "Our energy and infrastructure construction customers remain strong. Rising export activity and strength in U.S. infrastructure projects are also helping many of our core industrial customers, offsetting the economic slowdown. We continue to grow profitably, as the operating margin in the quarter expanded to 12.1 percent, an improvement of 120 basis points over last year."

The company made 18 acquisitions in fiscal 2008, adding more than $500 million in annualized revenue. Sales in fiscal 2008 increased 25 percent to $4 billion, with same-store sales growth of 7 percent.

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Interline Brands reports drop in sales
05/06/08 -- Interline Brands said its sales for the first quarter of 2008 decreased 2.1 percent over the comparable 2007 period. Earnings per diluted share were 27 cents for the quarter, down 7 percent from earnings per diluted share of 29 cents in the same period last year.

Sales for the quarter were $289.1 million, a 2.1 percent decrease over sales of $295.4 million in the comparable 2007 period. Interline's facilities maintenance market, which comprised 68 percent of sales, grew 4.5 percent during the first quarter on an average daily sales basis. This growth was offset by continued weakness in the pro contractor and specialty distributor end-markets. The pro contractor end-market, which comprised 20 percent of sales, declined 15.2 percent in the quarter. The specialty distributor end-market, which comprised 12 percent of sales, declined 12.6 percent for the quarter.

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Emerson reports 12 percent sales gain
05/06/08 -- Emerson announced net sales for the second quarter of $6.0 billion, an increase of 12 percent compared with $5.4 billion in the prior year. Earnings from continuing operations increased 21 percent to $598 million, or 75 cents per share. This represents an increase of 23 percent in earnings per share from the 61 cents in the same period last year.

“Emerson’s strong performance for the second quarter and first half of 2008 clearly demonstrates our continued ability to execute, even in a tougher economic environment,” said chairman, CEO and president David N. Farr.

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Milacron posts loss
05/06/08 -- Milacron Inc. reported a net loss of $6.9 million, or $1.76 per diluted share, in the first quarter ended March 31. This compared to a net loss in the first quarter of 2007 of $10.8 million, or $2.68 per share, which included $2.4 million in restructuring charges.

Boosted by operating efficiencies from restructuring and other cost-cutting measures, first quarter manufacturing margins rose to 19.0 percent from 18.7 percent a year ago. As a result, Milacron generated positive operating earnings of $1.5 million as opposed to an operating loss of $2.0 million in the first quarter of last year.

Sales in the quarter were $203 million, up from $190 million. The increase was due almost entirely to favorable currency translation effects, primarily the weakening of the dollar compared to the euro and other currencies.

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