News Article | May 2, 2017
DUBLIN--(BUSINESS WIRE)--Power management company Eaton Corporation plc (NYSE:ETN) today announced that net income and operating earnings per share were $0.96 for the first quarter of 2017. Net income per share in the first quarter of 2017 was up 9 percent over the first quarter of 2016. Operating earnings per share, which exclude $1 million of acquisition integration charges in the first quarter of 2017 and $1 million in the first quarter of 2016, were also up 9 percent over the first quarter of 2016. Sales in the first quarter of 2017 were $4.8 billion, up 1 percent over the same period in 2016. The sales increase consisted of 2 percent from growth in organic sales partially offset by a 1 percent decline from negative currency translation. Craig Arnold, Eaton chairman and chief executive officer, said, “Our first quarter net income and operating earnings per share were above the high end of our guidance range. Coming into the quarter, we had expected sales would be down 3 percent, split evenly between a decline in organic sales and negative currency translation. Our organic sales instead grew 2 percent and currency translation was slightly less negative than we had forecast, resulting in 1 percent revenue growth. This is the first quarter of revenue growth since the fourth quarter of 2014, evidence that a number of our markets are starting to turn up. “Segment margins in the first quarter were 14.4 percent,” said Arnold. “Excluding restructuring costs of $17 million incurred in the segments in the quarter, segment margins were 14.8 percent. “Operating cash flow in the first quarter was $463 million, a new first quarter record,” said Arnold. “The cash flow was inclusive of $100 million we put into our U.S. qualified pension plan in the quarter. We continued to return substantial cash to our shareholders, raising our quarterly dividend by 5 percent in February and repurchasing $255 million of our shares in the quarter. “Order growth showed an improvement in most segments compared to the fourth quarter of 2016,” said Arnold. “Most notably, Hydraulics orders grew 22 percent versus growth of 8 percent in the fourth quarter of 2016, and Electrical Systems and Services orders were flat compared to a decline of 7 percent in the fourth quarter of 2016. “In light of our strong first quarter, we are raising our earnings guidance for the year by $0.15 per share, an increase of 3 percent to the prior midpoint of our guidance,” said Arnold. “For the whole of 2017, we now expect net income and operating earnings per share to be between $4.45 and $4.75, representing a 9 percent increase at the midpoint of our guidance over 2016. We anticipate net income and operating earnings per share for the second quarter of 2017 to be between $1.05 and $1.15.” Sales for the Electrical Products segment were $1.7 billion, up 2 percent over the first quarter of 2016. Organic sales were up 3 percent partially offset by negative currency translation of 1 percent. Operating profits, excluding acquisition integration charges of $1 million during the quarter, were $298 million, up 10 percent over the first quarter of 2016. “Operating margins in the first quarter were 17.4 percent, and excluding restructuring costs of $3 million, 17.6 percent,” said Arnold. “Orders in the first quarter were up 3 percent over the first quarter of 2016, driven by growth in the Americas and EMEA, while APAC was flat. We saw particular strength in the Americas in residential products and lighting, and in EMEA in industrial controls.” Sales for the Electrical Systems and Services segment were $1.3 billion, down 1 percent from the first quarter of 2016. Organic sales were flat and currency translation was negative 1 percent. Segment operating profits were $155 million, down 3 percent from the first quarter of 2016. “Operating margins were 11.6 percent, and excluding restructuring costs of $2 million, 11.8 percent,” said Arnold. “Margins continue to be negatively impacted by weakness in large industrial projects and oil and gas markets. “Orders in the first quarter were flat with the first quarter of 2016, as declines in the Americas and EMEA were offset by strength in APAC. The declines in the Americas and EMEA were largely due to lower power quality orders, reflecting a slowdown after a year of strong orders in 2016. Orders in APAC showed double-digit growth during the quarter as a result of strong project orders.” Hydraulics segment sales were $587 million, up 7 percent over the first quarter of 2016. Organic sales were up 9 percent partially offset by negative currency translation of 2 percent. Operating profits in the first quarter were $60 million, an increase of 46 percent over the first quarter of 2016, with the increase driven by higher organic revenues and lower restructuring costs. “Operating margins in the quarter were 10.2 percent, and excluding restructuring costs of $9 million, 11.8 percent,” said Arnold. “Hydraulics orders in the first quarter of 2017 were up a solid 22 percent over the first quarter of 2016, with growth in all geographic regions, particularly APAC. We saw order strength from both OEMs and distribution.” Aerospace segment sales were $428 million, down 4 percent from the first quarter of 2016. Organic sales were down 1 percent and currency translation was negative 3 percent. Operating profits in the first quarter were $79 million, down 1 percent from the first quarter of 2016. “Operating margins in the quarter were 18.5 percent, and excluding restructuring costs of $1 million, 18.7 percent,” said Arnold. “Orders in the quarter were up 2 percent compared to the first quarter of 2016. We saw strength in commercial transports and aftermarket, military rotorcraft, and business jets, partially offset by weakness in military transports and fighters.” The Vehicle segment posted sales of $788 million, down 1 percent from the first quarter of 2016. Organic sales were down 2 percent while currency translation was 1 percent positive. Operating profits in the first quarter were $108 million, down 8 percent from the first quarter of 2016. “Operating margins in the quarter were 13.7 percent, and excluding restructuring costs of $2 million, 14.0 percent,” said Arnold. Eaton is a power management company with 2016 sales of $19.7 billion. We provide energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton is dedicated to improving the quality of life and the environment through the use of power management technologies and services. Eaton has approximately 95,000 employees and sells products to customers in more than 175 countries. For more information, visit Eaton.com. Notice of conference call: Eaton’s conference call to discuss its first quarter results is available to all interested parties as a live audio webcast today at 11 a.m. United States Eastern time via a link on the center of Eaton’s home page. This news release can be accessed under its headline on the home page. Also available on the website prior to the call will be a presentation on first quarter results, which will be covered during the call. This news release contains forward-looking statements concerning second quarter 2017 operating earnings and net income per share, full-year 2017 operating earnings and net income per share, and growth in our end markets. These statements should be used with caution and are subject to various risks and uncertainties, many of which are outside the company’s control. The following factors could cause actual results to differ materially from those in the forward-looking statements: unanticipated changes in the markets for the company’s business segments; unanticipated downturns in business relationships with customers or their purchases from us; competitive pressures on sales and pricing; unanticipated changes in the cost of material and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technologies; unexpected technical or marketing difficulties; unexpected claims, charges, litigation or dispute resolutions; strikes or other labor unrest; the performance of recent acquisitions; unanticipated difficulties integrating acquisitions; new laws and governmental regulations; interest rate changes; changes in tax laws or tax regulations; stock market and currency fluctuations; and unanticipated deterioration of economic and financial conditions in the United States and around the world. We do not assume any obligation to update these forward-looking statements. The company’s comparative financial results for the three months ended March 31, 2017 are available on the company’s website, www.eaton.com. EATON CORPORATION plc NOTES TO THE FIRST QUARTER 2017 EARNINGS RELEASE Amounts are in millions of dollars unless indicated otherwise (per share data assume dilution). This earnings release includes certain non-GAAP financial measures. These financial measures include operating earnings, operating earnings per ordinary share, and operating profit before acquisition integration charges for each business segment as well as corporate, each of which differs from the most directly comparable measure calculated in accordance with generally accepted accounting principles (GAAP). A reconciliation of each of these financial measures to the most directly comparable GAAP measure is included in this earnings release. Management believes that these financial measures are useful to investors because they exclude certain transactions, allowing investors to more easily compare Eaton Corporation plc's (Eaton or the Company) financial performance period to period. Management uses this information in monitoring and evaluating the on-going performance of Eaton and each business segment. Eaton incurs integration charges related to acquired businesses. A summary of these charges follows: Business segment acquisition integration charges in 2017 related to the integration of Ephesus Lighting, Inc. (Ephesus), which was acquired in 2015. The charges associated with Ephesus were included in Selling and administrative expense. Business segment acquisition integration charges in 2016 related to the integration of Oxalis Group Ltd. (Oxalis), which was acquired in 2015. The charges associated with Oxalis were included in Cost of products sold. In Business Segment Information, the charges reduced Operating profit of the related business segment.
News Article | April 27, 2017
UPS Battery market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market. The report includes the forecasts, Analysis and discussion of important industry trends, market size, market share estimates and profiles of the leading industry Players. The Players mentioned in our report Schneider-Electric EATON Activepower S&C ABB Socomec Toshiba Gamatronic Kehua Emerson To enquire about this report visit @ https://www.wiseguyreports.com/enquiry/1197337-world-ups-battery-market-by-product-type-market-players-and-regions Chapter 1 About the UPS Battery Industry 1.1 Industry Definition and Types 1.1.1 Offline/standby Uninterrupted Power Supply (UPS) 1.1.2 Line-interactive Uninterrupted Power Supply (UPS) 1.1.3 Online/double-conversion Uninterrupted Power Supply (UPS) 1.2 Main Market Activities 1.3 Similar Industries 1.4 Industry at a Glance Chapter 2 World Market Competition Landscape 2.1 UPS Battery Markets by Regions 2.1.1 USA Market Revenue (M USD) and Growth Rate 2011-2021 Sales and Growth Rate 2011-2021 Major Players Revenue (M USD) in 2016 2.1.2 Europe Market Revenue (M USD) and Growth Rate 2011-2021 Sales and Growth Rate 2011-2021 Major Players Revenue (M USD) in 2016 2.1.3 China Market Revenue (M USD) and Growth Rate 2011-2021 Sales and Growth Rate 2011-2021 Major Players Revenue (M USD) in 2016 2.1.4 India Market Revenue (M USD) and Growth Rate 2011-2021 Sales and Growth Rate 2011-2021 Major Players Revenue (M USD) in 2016 2.1.5 Japan Market Revenue (M USD) and Growth Rate 2011-2021 Sales and Growth Rate 2011-2021 Major Players Revenue (M USD) in 2016 2.1.6 South East Asia Market Revenue (M USD) and Growth Rate 2011-2021 Sales and Growth Rate 2011-2021 Major Players Revenue (M USD) in 2016 2.2 World UPS Battery Market by Types Offline/standby Uninterrupted Power Supply (UPS) Line-interactive Uninterrupted Power Supply (UPS) Online/double-conversion Uninterrupted Power Supply (UPS) 2.3 World UPS Battery Market by Applications Data center Medical Industrial Retail Service 2.4 World UPS Battery Market Analysis 2.4.1 World UPS Battery Market Revenue and Growth Rate 2011-2016 2.4.2 World UPS Battery Market Consumption and Growth rate 2011-2016 2.4.3 World UPS Battery Market Price Analysis 2011-2016 Chapter 3 World UPS Battery Market share 3.1 Major Production Market share by Players 3.2 Major Revenue (M USD) Market share by Players 3.3 Major Production Market share by Regions in 2016, Through 2021 3.4 Major Revenue (M USD) Market share By Regions in 2016, Through 2021 For more information, please visit http://www.wiseguyreports.com
News Article | August 11, 2017
Located in Rensselaer, Indiana, Saint Joseph's College is a coeducational, private, Catholic Liberal Arts College. They were voted by the Princeton Review as a "Best Midwestern College" in 2017, but are temporarily suspending academic operations. Assets to be sold include but are not limited to furniture, departmental items, lab equipment, IT equipment, athletic equipment, a library collection, vehicles and maintenance equipment. There are also antiques, memorabilia, and trophies in addition to the standard operational items of a college. The asset sale is being conducted to support the future planning efforts of Saint Joseph's College. Details are posted on the Hilco Fixture Finders website at www.hilcofixturefinders.com and additional information will be available on site at Saint Joseph's College. In the meantime, Saint Joseph's College is working diligently towards redesigning their core academic curriculum, and plan to relaunch operations as soon as possible. Please see the "Phoenix Project" to keep up with the progress that St. Joseph's College is making towards these efforts. (http://www.saintjoe.edu/phoenix.html). Scott Hoek, CEO of Hilco Fixture Finders said, "We're planning to successfully manage this important project for Saint Joseph's College, with the goal of delivering maximum value for all of their assets. We recognize Saint Joseph's College as a quality educational institute, and will work hard to be good stewards, protecting and caring for the foundation they have laid down over their many years of operation." The campus Furniture, Fixtures and Equipment sale will open to the public starting Monday August 14, 2017 at the college's Recreation Center. In addition, there will be an online auction of school memorabilia, trophies, and awards for the alumni in the coming weeks. Alumni and family can get additional information as event details are finalized by visiting www.hilcofixturefinders.com or directly from the college by e-mailing AssetRequests@Saintjoe.edu. Hilco Fixture Finders (www.hilcofixturefinders.com) is the premier fixture and equipment liquidation company in the United States, serving as a one-stop shop for all fixture related needs in either closed, closing, or remodeling locations. Hilco Fixture Finders offers a full suite of FF&E related services that includes purchasing and selling of custom pulled used Lozier brand gondola shelving; store distribution center, and warehouse FF&E sales and/or clean-out services; warehouse services, including onsite fixture packing, shipping, refurbishing and storage for future client use; and, an extensive inventory of used fixtures such as gondola shelving, racking systems, material handling equipment, and other supermarket, restaurant, and retail store FF&E. Hilco Fixture Finders provides client's fee for service, guaranteed return, and purchase and sale alternative transaction structures designed to maximize the return on the value of their assets. Hilco Fixture Finders is part of Northbrook, IL based Hilco Merchant Resources (www.hilcomerchantresources.com), one of the world's leading retail disposition experts providing a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer's strategic initiatives. Eaton Hudson specializes in strategic management solutions for leading retail companies in the area of asset disposition, inventory valuation and jewelry liquidation. Their range of services helps young, mature and distressed retail businesses manage their retail inventory, assets and real estate expansion strategies. We work collaboratively with retailers to design and execute successful disposition sales, and to restructure retail real estate portfolios to maximize value and minimize liabilities. Launched by industry veterans of the Eaton Department Stores of Toronto and Hudson Capital Partners and later joined by former executives of Silverman Consultants, our clients benefit from our financial strength and expertise. We know how to partner with retailers, financial sponsors, strategic buyers, managers, lenders and advisors to develop creative and transparent structures that align interests, enhance liquidity and create positive outcomes. Eaton Hudson has been providing innovative and strategic solutions for the disposition of excess, obsolete and discontinued inventory and other assets for nearly fifteen years. The company has offices in Toronto, Atlanta, Boston and Charleston, and employs consultants nationwide.
Barouni F.,EATON Inc
2016 Saudi Arabia Smart Grid Conference, SASG 2016 | Year: 2016
Wind power as a green and renewable source of energy is growing very fast. Governments and utilities around the world have encouraged over the last years the commissioning of wind farm projects - using wind as a clean power source. This led to the development of new standards and architectures to make wind farm data available and meet the requirements for wind farm monitoring. In this paper, we propose a novel approach to automate wind farm data. The solution processes collected data and generates non-operational information that will serve for production and wind power forecasting as well as operational information, such as turbine status, turbine counters, active power of each turbine and total power of the wind farm. Using the IEC 61400 protocol and IEC 61131-3 automation languages embedded in a data concentrator, our solution communicates with various components and concentrates the data to make it available to different clients. In addition, the collected data will be processed to generate statistical information (periodic, minimum, maximum, average and standard deviation) and key indicator information (availability counters, power) thanks to a customized automation module. © 2016 IEEE.
Grace T.,EATON Inc
Power | Year: 2017
Products purchased through channels not supported by the original manufacturer may be damaged or broken, or possibly refurbished by someone without proper knowledge or expertise in refurbishing them. In many cases, these products may be faulty in ways that aren't immediately apparent, meaning damage only becomes known when these components are installed or implemented. This can lead to equipment that either does not function, functions poorly, or creates significant safety hazards for the user A discussion covers the risks of buying with uncertainty, that is, procuring electrical products that cannot be traced to the original product manufacturer; and steps plant managers are taking to avoid this uncertainty and ensure that only genuine products are powering the infrastructure.
Graczyk, Ramey, Fleming, Herbst, Mcgrath, Wentworth and EATON Inc | Date: 2010-02-10
Certain embodiments of the present invention provide a cooling duct assembly for electronic equipment installed in a cabinet. The cooling duct assembly comprises at least one main duct in fluid communication with a front portion of the cabinet. The at least one main duct receives cold air from the front portion of the cabinet and routes the cold air toward a back portion of the cabinet. Additionally, the cooling duct assembly comprises at least one side duct in fluid communication with the at least one main duct. The at least one side duct receives the cold air from the at least one main duct and routes the cold air to at least one side air intake opening on the electronic equipment.
Eaton J.W.,EATON Inc
Journal of Process Control | Year: 2012
GNU Octave 1 has been available for nearly two decades. During that time the scope of the project has grown from a simple interface to numerical tools intended for classroom use to a capable system with hundreds of thousands of users worldwide. This paper provides an overview of the Octave project, summarizes some recently completed additions, and describes in detail the ways in which Octave may be used to perform reproducible research. © 2012 Elsevier Ltd.
EATON Inc | Date: 2014-01-07
A cover assembly for bedding products, such as mattresses and/or box springs, that includes a sleeve shaped body and a selectively operable closure assembly disposed about an opening formed in the sleeve. The closure assembly includes first and second closure mechanisms that each, when closed, isolate a cavity defined by the sleeve from atmosphere. The first and second closure mechanisms overlie one another so that, when closed, only one of the closure mechanisms is exposed to atmosphere. The first and second closure mechanisms are preferably provided as zippers that can extend the entire longitudinal length of the sleeve opening and operate in generally opposite longitudinal directions.
EATON Inc | Date: 2015-01-12