Eaton's first-quarter revenue soared 34% year-on-year

Eaton Group , the component manufacturer, announced that thanks to the good performance of its electrical products business, the company's operating income and net profit have both improved significantly in the first quarter of this year.

In the first quarter of 2013, Eaton’s operating income increased by 34.1% year-on-year, from US$3.96 billion in the same period last year to US$5.31 billion; net profit of the company’s ordinary shareholders was US$378 million, compared with 311 million in the first quarter of last year. The US dollar surged 21.5%.

Among all business units, revenue from the Electrical Products Business Unit reached US$1.66 billion, a surge of 87.4% year-on-year, and operating profit surged by 73.4% year-on-year to US$241 million; revenue from the Electrical Systems and Services Division reached US$1.52 billion, a year-on-year increase of 78.5. %, operating profit soared 176.3% year-on-year to 210 million US dollars.

Eaton Hydraulics' operating income reached $758 million, an increase of 2.9% year-on-year, but its first-quarter operating profit fell 28.4% to $78 million; Aerospace product operating income was $434 million, a slight increase of 0.93% year-on-year. Profit increased by 3.3% year-on-year;

Eaton Vehicle Group was the only company in the first quarter that saw its revenue decline, from the 1.06 billion U.S. dollars in the same period of last year to a decrease of 11.2% to 940 million U.S. dollars. The first quarter operating profit of the division was 132 million U.S. dollars, down from a year earlier. 17.5%.  

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