Segment Results

Industrial Segment

(US $ in millions)
 
    Three Months Ended May 31,     Nine Months Ended May 31,
2013     2012 2013     2012
Sales $111.3 $110.1 $311.4 $308.7
Operating Profit $32.4 $30.7 $85.8 $85.3
Operating Profit % 29.1% 27.9% 27.5% 27.6%
 

Third quarter fiscal 2013 Industrial segment sales were $111 million, 1% higher than the prior year. Excluding the 1% negative impact of foreign currency translation, core sales increased 2% due to success in executing strategic initiatives including higher global Integrated Solutions, bolting and mining MRO tool sales. Europe and the Asia Pacific region, including China, continue to experience year-over-year core sales declines, albeit at a more modest sequential pace. Third quarter operating profit margin increased 120 basis points to 29.1% on the higher volume, lower incentive compensation and cost containment actions.

Energy Segment

(US $ in millions)
    Three Months Ended May 31,     Nine Months Ended May 31,
2013     2012 2013     2012
Sales $99.2 $96.4 $270.7 $255.8
Operating Profit $19.7 $18.5 $44.8 $43.4
Operating Profit % 19.9% 19.2% 16.5% 17.0%
 

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