Thursday, May 27, 2010

Good News/Bad News at Rexnord

If you want to know how the manufacturing sector's going, you check with Rexnord.

The good news:

Milwaukee-based Rexnord LLC reported fiscal fourth quarter net income of $11.1 million, which was an improvement over a loss of $7.8 million in the same period a year ago.

The BAD news:

The company’s quarterly net sales fell to $406.7 million from $432.2 million a year earlier.

Rexnord supplies gears, drives, chains, clutches, (and replacement parts) to capital-goods manufacturers AND on an OEM basis to firms which make off-road vehicles.

It's a rough, down-and-dirty measuring stick, and it tells us that things aren't all that hot out there.

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