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Net income for both periods of 2010 and 2011 includes costs associated with acquisition consolidation. Excluding this portion of costs, operating income per share in 2011 was $0.97, an increase of 43% compared to $0.68 for the same period in 2010. Operating income was $338 million, compared to $232 million in the same period of 2010.
Eaton’s Chairman and CEO, Alexander M. Cutler, said: “We are satisfied with the second quarter’s performance and exceeded our earnings forecast for the quarter. Our second quarter sales are higher than the first quarter. An increase of 8% reflects the continued expansion of our markets throughout the world, and our second-quarter sales increased by 21% compared to the same period of last year, of which 14% came from core growth and 6% came from foreign exchange transactions. , and 1% from acquisitions. The end market this quarter achieved a 12% increase."
Compared with the same period of last year, sales of automotive components business rose by 18% to 460 million US dollars. The global auto market rose by 9%, the US market rose by 15%, and the non-U.S. market rose by 7%. The operating profit of the automotive business was US$55 million, an increase of 41% over the same period of last year.
Ke Renjie said: “We are very pleased that the automotive components business has achieved a 12% profit margin, which also promoted us to increase our annual profit forecast. Although global auto production fell due to the impact of the Japanese market supply during the quarter, we were also slightly affected. Fortunately, we suffered much less disturbance than many industry experts had predicted, and we believe global vehicle production will rebound in the third quarter as the supply situation resumes."
It consists of Winding Machine, Auto-wire laying device, Layer-insulation supply device, Round/flat wire tension adjustable device, Pneumatic system, PLC control and Servo motor system, Touch screen HMI, etc.
With a high degree of automation, complete functions, strong power, etc., ensuring axial and horizontal wire compaction. It is especially suitable for winding rectangular coil.
Eaton has announced its net income of $0.97 per share for the second quarter of 2011, an increase of 47% compared to net earnings per share of $0.66 for the same period in 2010. Sales for the quarter were US$4.09 billion, up 21% from the same period last year; this quarter's profit was US$336 million, compared with US$226 million in the same period last year.