Baldor Electric Company (NYSE: BEZ) which designs, and manufactures industrial electric motors, drives, and generators, announced results of the fourth quarter and year 2005.
John McFarland, Chairman and CEO, said, “We are pleased to announce record sales for 2005 of $721.6 million, an 11% increase. Earnings were up 23%, and earnings per share increased 22% to $1.28.
“Fourth quarter sales were $182.7 million, an increase of 12%. During the quarter, net earnings and earnings per share were up 26%. Earnings per share increased to $0.39. In the fourth quarter 2005, there were adjustments that increased net earnings by $0.05 per share, compared to the fourth quarter 2004 adjustment that increased net earnings by $0.06 per share.”
McFarland also said, “Our customers and our sales force are upbeat about 2006. We are encouraged by the strong sales increases we are having in large motors (60-1500 horsepower) and in Super E high-efficiency motors across the product range. We believe our strategy to gain market share in these two products is working. The big increase in electricity costs make our Super E motors the best value for industrial users.”
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