William P. Donnelly
Thanks, Olivier, and hello everybody. Let me start with additional details on sales which were $570.3 million in the quarter, an increase of 6% in local currency. On a U.S. dollar basis, sales increased by 2% in the quarter which included a negative 4% impact from currency.
Turning to Page 3 of the presentation. We outline sales by geography. In the quarter, local currency sales increased by 6% in the Americas, 14% in Asia/Rest of World, while they declined by 2% in Europe. Acquisitions contributed 1% to total sales growth and contributed 2% to European sales growth.
The next slide provides full year sales. For the 6 months, sales have increased by 6% in the Americas and 16% in Asia/Rest of World. Sales were flat in Europe for the period. Acquisitions contributed approximately 1.5% of sales growth in the first half and contributed 2% to Europe and 1% to the Americas for the 6 monthsAnd Slide #5 of the presentation, we outlined our sales by product area for the second quarter. In this quarter, lab sales grew by 8%, while industrial sales increased 6%. Food retailing declined by 6%. Acquisitions contributed 2% to industrial sales growth in the quarter, so our core product lines, lab and instructional, grew by 6% on an organic basis in the quarter. Read the rest of this transcript for free on seekingalpha.com
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts