PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


Graco Overall Sales Holding Steady

Thursday, October 29, 2009

Comment | More

Graco Inc. (Minneapolis, MN), a manufacturer of equipment for industrial and commercial coatings and other fluids, announced third quarter sales of $147.3 million, down 29% from Q3 2008, but up 7% from Q1 2009 and holding steady with Q2 2009. Net earnings for the third quarter were down 47% to $17.3 million from the third quarter of 2008.

For Q3 2009, sales decreased 25% in the Americas, 39% in Europe (36% at consistent translation rates), and 25% in Asia Pacific. In the industrial segment, sales were $78.2 million for the quarter, down 34% from 2008. The contractor segment saw a sales decrease of 18% to $55.4 million. The lubrication segment fell to $13.7 million, down by 37%.

According to Patrick J. McHale, president and CEO, the company reduced long-term debt by $73 million and also made a $15 million tax-deductible contribution to the benefit pension plan. He stated, “While sales remain low compared to last year, we are pleased with the improvement in profitability over the most recent two quarters of 2009.”

   

Tagged categories: Earnings reports; Finance; Graco/Gusmer

Comment Join the Conversation:

Sign in to our community to add your comments.

Hempel (USA) Inc.
HEMPEL PROTECTIVE COATINGS

Efficient systems and high quality products to reduce your maintenance costs. Visit Hempel Protective for more information.


US Minerals
US Minerals -
Black Magnum

With nationwide production and distribution capabilities, U.S. Minerals supplies a complete range of coal slag and other abrasives to meet all of your blasting needs.


DeFelsko Corporation
A Smart New Way to Measure

PosiTector SmartLink and free mobile app turns your cell phone or tablet into a virtual PosiTector gage.


International Paint LLC

International Paint Engineered Coatings

Learn about our solutions for:
  • Structural Steel
  • Piping & Equipment
  • Storage Tanks
  • Pressure Vessels
  • Secondary Containment


    Absolute Equipment/Grand Rental Station
    Portable Power from Absolute Equipment

    •Compressors
    •Lighting Systems
    •Generators
    •Light Compaction
    Sales • Rental • Service
    Call 1-866-931-6655
    Over a century of
    providing excellence.


    Armakleen Company, The
    ARMEX when nondestructive cleaning is critical

    The gentle physical propriety of baking soda but yet aggressive cleaning ability is what makes ARMEX the only choice for nondestructive abrasive blasting.


    International Bridge Conference
    International Bridge Conference

    Save the dates to attend the 2015 IBC. Four full days of educational sessions and 150 exhibits all in the City of Bridges. Click here for more information.


    Thermion Inc
    Buy Back Program

    We are offering $5,000
    credit for your old Model
    This drive system is
    being discontinued by
    the manufacturer.
    More information at
    thermioninc.com
    877.884.3428


    RPB Respiratory
    GET A FREE COOL TUBE

    Take advantage of RPB Safety’s coolest promotion yet! Throughout the entire month of May you will receive a free Cool Tube with every...

  •  
     
     
    Technology Publishing

    The Technology Publishing Network

    The Journal of Protective Coatings & Linings (JPCL) PaintSquare
    Durability + Design Paint BidTracker

     
    EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
    REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
    MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
     

    © Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
    2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com