June 2009 -- Second quarter 2009 results for Rockwell Automation showed a decline in total sales to $1.0 billion from $1.4 billion in the second quarter of fiscal 2008. The company also experienced a decline in organic sales for 18 percent. Net income for the quarter was $40.6 million or $0.29 per share, a drop of 72%.
Noting that market conditions had deteriorated "across most industries and all regions", Chairman and CEO Keith Nosbusch said the company would continue cost-cutting measures and expected to achieve savings in fiscal 2009 above its original $240 million target.
Looking ahead, Nosbusch commented: "While there are signs that economic and market conditions may be stabilizing, it is still too early to call a bottom." He said the company would manage its business "assuming that sales volume in the second half of the fiscal year will be somewhat below the second quarter run rate."
Rockwell Automation closed the books on fiscal 2008 with a sales increase of 14% to nearly $5.7 billion. Full year 2008 income from continuing operations was $577.6 million, or $3.90 a share.
