As we look at their numbers in a bit more detail, it shows that 11 of their top 12 product categories are running double-digit increases year-to-date. And as a group, these 12 categories are up 15% through the first 3 months. And Motion had strong results from their top 10 industry segments, as well. As a group, these top 10 segments are up 12% through March, and this is on top of a combined 30% increase in the first quarter of last year.
The top 20 individual customers have a collective year-to-date increase of 14%, and additionally, the solid results are consistent across all geographic areas as well.
So from a number of different viewpoints, the Industrial business remains strong currently, and with the industrial production and capacity utilization indices each continuing to remain at healthy levels and with good execution of their internal growth initiatives, we're optimistic about our prospects in the Industrial segment over the next several quarters.
Moving onto the electrical/electronic segment. EIS was up 5% in the quarter. This is down from the 10% increase that we reported in the fourth quarter and well off of the full-year 2011 increase of 24%, but it's important to note that our first quarter 2011 increase of 39% was our strongest quarter of the year by far. So it was a tough comparison.But with that said, there has been a moderation in demand for our Electrical/Electronic business over the past 2 quarters. On the electrical side, this is primarily attributable to a slowdown in the Renewable Energy segment. And on the electronic side, it is largely due to a slowdown in the Contract Manufacturing segment. Our expectation is that these 2 segments of our business will lag the overall business through the first half of the year, but they will then start to show a gradual recovery over the remainder of the year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV