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Parker Hannifin's CEO Discusses F4Q2012 Results - Earnings Call Transcript

At this time, reference slide number two in the slide deck which is the Safe Harbor disclosure statement addressing forward-looking statements. And again, just to remind you, if haven’t already done so, please take note of this statement in its entirety.

Slide number three, this slide as required indicates that in cases where non-GAAP numbers have been used they’ve been reconciled to the appropriate GAAP numbers and are posted on Parker’s website again at phstock.com.

To cover the agenda today, slide four, the call will be in four parts. First, Don Washkewicz, Chairman, Chief Executive Officer and President will provide highlights for the quarter and for the full year.

Second, I’ll provide a review including key performance measures of the fourth quarter and full year fiscal year 2012, concluding with the guidance for next year fiscal year 2013.

The third part of the call will consist of our standard Q&A session. And for the fourth part of the call today, Don will close with some final comments.

At this time, I’ll turn it over to Don and ask that you refer to slide number five titled Fourth Quarter and Full Year Fiscal Year ‘12 highlights.

Don Washkewicz

Thanks, Pam, and welcome to everyone on the call. We’re certainly very pleased to report our results following a strong fourth quarter and another record year for the company. I’ll start-off by taking a moment to point out some of the highlights and some of the records for the quarter and then I’m going to follow-up and talk a little bit about the full year.

So, first of all, the fourth quarter sales were a record at $3.4 billion, we’re really pleased with the level of activity there that we’re able to bring in the quarter. Net income for the quarter was $302 million or $1.96 per share on a diluted basis and we’re certainly pleased with that, and that was ahead of the street consensus expectations.

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