Emerson profit jumps 245 percent in third quarter

Photo courtesy of Data Center Knowledge
Courtesy of Data Center Knowledge

Emerson reported a profit of $738 million for the third quarter, up from $214 million reported in the third quarter last year. The St. Louis-based technology and engineering company reported that “portfolio changes and operational efficiencies” contributed to the 245 percent spike in profits.

Emerson’s divestiture of Artesyn, a design and manufacturing firm, contributed to a drop in net sales, which fell by one percent to $6.3 billion, and network power division sales, which fell by 18 percent.

Meanwhile, sales in the process management division and commercial and residential solutions division, rose by 6 percent and 4 percent, respectively.

Read more from the St. Louis Business Journal

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