The Regal Beloit Corp. has reported that sales for 2012 increased 12.8% primarily driven by its electrical segment, which soared 13.3% including $537.2 million from businesses acquired during the past 12 months.
Excluding the acquired and divested businesses, fiscal 2012 Electrical segment net sales declined 7.8% driven primarily by softer HVAC demand in the first half of 2012 and slowing commercial and industrial demand in the second half of 2012.
Net sales for the year were a record $3.17 billion compared to 2.8 billion for 2011.
Profit increased 28.4% to $195.6 million.
Net sales for the 4Q were $715.6 million compared to $727 million for the fourth quarter of 2011. Electrical segment net sales declined 2% in 4Q.
North American residential HVAC net sales increased 0.2% for the fourth quarter 2012 compared to the fourth quarter 2011. North American commercial and industrial motor net sales decreased 1.4% for the same period, adjusting for the divested business.
Mechanical segment net sales for the fourth quarter 2012 included $10.4 million from the acquired businesses. Excluding the impact of the acquired and divested businesses, Mechanical segment net sales in North America decreased 2.6%. Fiscal year 2012 Mechanical segment net sales included $42.5million from the acquired businesses.
Excluding the impact of the acquired and divested businesses, fiscal 2012 Mechanical segment net sales in North America increased by 5.4%.
Fourth quarter 2012 net sales to regions outside the United States decreased 1.5% compared to fourth quarter 2011 and represented 34.2% of total net sales.
In the fourth quarter 2012, sales of high efficiency products grew 13.2% and represented 21.0% of net sales. For fiscal 2012, sales of high efficiency products increased 22.1% and represented 20.3% of net sales.
Regal Beloit Corporation is a manufacturer of electric motors, mechanical and electrical motion controls and power generation products serving markets throughout the world. Regal Beloit is headquartered in Beloit, Wis., and has manufacturing, sales and service facilities throughout the United States, Canada, Mexico, Europe and Asia.
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