Emerson saw profit growth despite a slight dip in sales for its recently completed fiscal year, the Ferguson-based electronics manufacturer announced Tuesday.
Emerson reported net income of $2.15 billion, or $3.03 per share, for the year ended Sept. 30. That’s up from net income of $2 billion, or $2.76 per share, in fiscal 2013.
Emerson CEO David Farr blamed the sales slowdown on a tepid global economy. Sales for the company fell 1 percent to $24.54 billion in fiscal 2014. Fourth-quarter sales were $6.81 billion, matching the company’s performance in the prior-year quarter.