“Automation remains a great market and we have the right strategy to capitalize on growth opportunities and gain share. Our strong operating performance and healthy balance sheet enable us to continue to invest in differentiation, particularly in innovative technology and domain expertise. We are confident that our focus on intellectual capital will continue to fuel attractive returns for our shareowners.”
Following is a discussion of fourth quarter and full year results for both segments.
Architecture & Software
Architecture & Software fiscal 2013 fourth quarter sales were $714.3 million, an increase of 6 percent from $671.3 million in the same period last year. Fiscal 2013 fourth quarter sales were up 6 percent sequentially from the third quarter of fiscal 2013. Segment operating earnings were $217.7 million in the fourth quarter of fiscal 2013 compared to $169.4 million in the fourth quarter of fiscal 2012. Segment operating margin increased to 30.5 percent in the fourth quarter of fiscal 2013 from 25.2 percent a year ago, primarily due to higher sales, strong productivity and the favorable resolution of certain legal matters. The legal matters contributed about 2 percentage points to the segment operating margin in the quarter.Architecture & Software fiscal 2013 sales were $2,682.0 million, an increase of 1 percent from $2,650.4 million last year. Fiscal 2013 organic sales were up 2 percent, and currency translation reduced sales by 1 percentage point. Segment operating earnings were $759.4 million in fiscal 2013 compared to $714.4 million in fiscal 2012. Segment operating margin increased to 28.3 percent in fiscal 2013 from 27.0 percent a year ago. Control Products & Solutions Control Products & Solutions fiscal 2013 fourth quarter sales were $1,001.4 million, an increase of 1 percent from $992.7 million in the same period last year. Fiscal 2013 fourth quarter sales were up 5 percent sequentially from the third quarter of fiscal 2013. Segment operating earnings increased to $140.1 million in the fourth quarter of fiscal 2013 compared to $134.0 million in the fourth quarter of fiscal 2012. Segment operating margin was 14.0 percent in the fourth quarter of fiscal 2013, compared to 13.5 percent a year ago.
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