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

Net income for the year was a record as well at $746, excuse me, at $745, and that increased 17% from the last year. We added $1.08 in earnings per share and that was on a 6.5% sales increase. So we’re very pleased with that performance as well.

Operating cash flow for the year was a $1.5 billion or 11.6% of sales and I might point out too and I’m not sure some of you may be tracking this as well but our free cash flow was greater than net income now for the tenth year in a row.

And that again includes some very, very difficult recessionary periods when you can say that we’ve increased cash flow greater than net income for 10 years in a row, we’ve got to be doing something right back here.

So we used the cash flow during the year to increase the dividends per share payout by 23%. We’ve repurchased over 6 million shares of stock for total investment of just under $0.5 billion and we made acquisitions which added $141 million in annualized sales.

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