I'll start with the highlights of the quarter as shown on Page two of the conference call slide presentation. Third quarter sales increased 3% to $6.5 billion underlying sales growing 6% as robust growth in process management was driven by strong energy in markets in recovery of sales deferred from the Thailand flooding and supply chain disruption.The strong US dollar particularly against the euro reduced growth by 3%. Gross profit margin improved 80 basis points from the prior year to a record of 40.5%. Operating profit margin of 19.9% increased 180 basis points from the prior year, benefiting from strong sequential operating profit leverage of 55%. Earnings per share of $1.04 increased 16% from the prior year achieving a record for the third quarter.
Emerson Electric's CEO Discusses F3Q12 Results - Earnings Call Transcript
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