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Franklin Electric announces record results for 2012

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.The Associated Press
Thursday, February 21, 2013 11:45 am
Franklin Electric Co., which is scheduled to move its headquarters from Bluffton to Allen County by this summer, produced record earnings in 2012, according to results released this week.In the fourth quarter of 2012, adjusted earnings were 56 cents per share, a 12 percent increase over adjusted earnings during the fourth quarter 2011. For the full year 2012, adjusted earnings per share were $3.14, an increase of 16 percent versus the $2.70 adjusted earnings per share in 2011.

Fourth quarter 2012 sales were $205.2 million, an increase of 10 percent compared to 2011 fourth quarter sales of $187.2 million. Full- year 2012 sales were $891.3 million, an increase of about 9 percent compared with 2011 sales of $821.1 million.

Scott Trumbull, Franklin's chairman and chief executive, said in a release on the earnings results, “In the fourth quarter, we benefited significantly from sales in developing regions, a key strategic focus for the company. About 40 percent of the company's sales are derived from developing regions, and during the fourth quarter, those sales grew organically by 16 percent after excluding the impact of foreign currency translation.

“Also in the fourth quarter, we continued to gain market share in the North American water systems pump market, launched our first Energy Systems artificial lift pumping products, broke ground on a new manufacturing facility in Brazil and our Fueling Systems business acquired Flex-ing Incorporated of Sherman, Texas,” Trumbull said.

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