Summary
Emerson Electric Co. (EMR) filed an 8-K on November 6, 2007, to report its fourth quarter and fiscal year 2007 financial results. The press release, furnished as an exhibit, details the company's performance and provides a look at order trends across its various segments. While the full financial details are in the press release, the 8-K highlights a generally positive order trend for the total company, with significant growth in Process Management, Industrial Automation, and Network Power, partly aided by favorable currency exchange rates. However, the report also points to some areas of weakness. Climate Technologies saw improved, but still modest, order growth due to a soft U.S. housing market, while Appliance and Tools experienced negative order trends driven by declines in residential storage, motors, and appliance components. Investors are directed to the press release for non-GAAP financial measures and to upcoming investor events, including a conference call on November 6, 2007, and a presentation at the Baird 2007 Industrial Conference on November 7, 2007.
Key Highlights
- 1Emerson Electric reported its Q4 and full fiscal year 2007 results via an 8-K filing on November 6, 2007.
- 2Total Emerson orders showed a favorable trend, increasing to 10-15% growth for the trailing three months ending September 2007.
- 3Strong double-digit order growth was observed in Process Management, Industrial Automation, and Network Power segments.
- 4Favorable currency exchange rates contributed approximately 5% to the order growth.
- 5Climate Technologies experienced improved order growth but was still impacted by a soft U.S. housing market.
- 6Appliance and Tools segment saw negative order trends, with weakness in residential storage, motors, and appliance components offsetting strength in professional tools.
- 7The company scheduled an investor conference call for November 6, 2007, and an appearance at the Baird Industrial Conference on November 7, 2007, to discuss results.