(August 9, 2011)

Emerson (NYSE: EMR), St. Louis, MO, reported sales for the third quarter ended June 30, 2011, were $6.3 billion, up 16 percent from the prior year quarter. Organically, sales grew 10 percent, with 6 percent growth in U.S. sales and 13 percent growth in international sales.

Profit grew 17 percent to $683 million.

"We noted last quarter that a variety of global issues would be a challenge, not the least of which is the detrimental impact on business investment caused by ongoing debt problems in Europe and the U.S.," CEO David N. Farr said. "Regardless, fiscal 2011 will be a very good year at Emerson."

For the first nine months of the fiscal year, sales increased 16 percent to $15.2 billion, with profit improving 21 percent to $1.4 billion.

The diversified global manufacturing and technology company expects the industrial-led recovery to continue, although at a slower pace with a weakening trend in general business conditions in the U.S. and Europe in June and July and confidence within the business community dampening.

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