* Q2 EPS $0.19 vs $0.69 a year ago * Q2 revenue $147.7 mln vs $239.2 mln yr-ago
July 22 (Reuters) - Graco Inc, a maker of fluid handling systems and components, posted a 73 percent drop in quarterly profit, hurt by falling sales and orders across all segments and regions.
For the second quarter, net income was $11.6 million, or 19 cents a share, compared with $42.5 million, or 69 cents a share, a year ago.
Net sales fell 38 percent to $147.7 million. Sales at the company's industrial segment fell 45 percent to $73.3 million during the quarter.
Analysts on average were expecting earnings of 18 cents a share, before special items, on revenue of $157.6 million, according to Reuters Estimates.
Shares of the Minneapolis-based company closed up 33 cents at $24.47 Wednesday on the New York Stock Exchange.
(Reporting by Eric Yep in Bangalore; Editing by Anne Pallivathuckal) Keywords: GRACO/ (eric.yep@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: eric.yep.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
July 22 (Reuters) - Graco Inc, a maker of fluid handling systems and components, posted a 73 percent drop in quarterly profit, hurt by falling sales and orders across all segments and regions.
For the second quarter, net income was $11.6 million, or 19 cents a share, compared with $42.5 million, or 69 cents a share, a year ago.
Net sales fell 38 percent to $147.7 million. Sales at the company's industrial segment fell 45 percent to $73.3 million during the quarter.
Analysts on average were expecting earnings of 18 cents a share, before special items, on revenue of $157.6 million, according to Reuters Estimates.
Shares of the Minneapolis-based company closed up 33 cents at $24.47 Wednesday on the New York Stock Exchange.
(Reporting by Eric Yep in Bangalore; Editing by Anne Pallivathuckal) Keywords: GRACO/ (eric.yep@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: eric.yep.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.