Ingersoll Rand Reports Record Earnings and Revenues for Second Quarter
Ingersoll-Rand Co. Ltd., the parent company for such
electronic security brands as Schlage, Recognition Systems
Locknetics, and integrator Security One Systems, announces
record earnings and revenues for the second quarter of
2006. The firm reported net earnings (EPS) of $313.5
million, or a diluted earning per share of 95 cents. This
includes $322 million, or an EPS of 97 cents, from
continuing operations, as well as $8.5 million of costs, or
EPS of 2(cents), from discontinued operations, which
represents retained costs of divested businesses. Reported
second-quarter EPS increased by 14 percent.
Ingersoll Rand realized a net earning of $285.4 million
during second quarter 2005, or an EPS of 83 cents. This
includes 85 cents from continued operations and $6.4
million in costs, or (2 cents) for discontinued operations.
“We continue to demonstrate strong growth and
operational improvement across our global businesses,” says
Herbert L. Henkel, chairman, president and CEO of Ingersoll
Rand. “This progress is the direct result of a successful
portfolio transformation, as well as an ongoing
transformation of our operating culture.”
The company’s revenues increased by 10 percent to $3,041.9 million compared with revenues of $2,759.5 million for the 2005 second quarter. Second quarter revenues increased in all business segments and geographical markets compared with 2005.
“As opposed to the capital-intense, heavy-machinery profile of our past, today’s Ingersoll Rand is a multibrand commercial products manufacturer serving customers in diverse global markets,” adds Henkel. “Our industry-leading businesses continue to prove their manufacturing excellence, product innovation and operational efficiency, which combine to deliver customer pleasing solutions. Our ability to leverage the enterprise has enabled us to significantly offset materials price increases, and our focus on building a ‘one Ingersoll Rand’ culture is creating new pathways for sharing knowledge, best practices and resources for the benefit of the global enterprise. Ingersoll Rand is a different, and better, company today, and is poised to generate greater progress and value for customers, employees and shareholders for the future.”
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