Operating margin for the quarter was 12.4%, up 20 basis points versus prior year. If we exclude Hussmann and the property of sale gain from last year, margins in the second quarter were up 70 basis points from second quarter of 2011. Margins improved from pricing and productivity, partially offset by unfavorable mix, currency and higher restructuring and investment spending year-over-year as we discussed in the April earnings call.We are particularly encouraged by the results of residential which were right on forecast and show the 150 basis points in margin improvement. Industrial posted a new record margin level of 17% with margin increases in all regions.
Ingersoll-Rand CEO Discusses Q2 Results - Earnings Call Transcript
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