(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
"The problems that were uncovered started long before Parker acquired this
small, Italian company and were concealed from Parker," said
With annual sales exceeding
Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. All statements regarding future performance, earnings projections, events or developments are forward-looking statements. It is possible that the future performance and earnings projections of the company and individual segments may differ materially from current expectations, depending on economic conditions within its mobile, industrial and aerospace markets, and the company's ability to maintain and achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, actions taken to combat the effects of the current recession, and growth, innovation and global diversification initiatives. A change in economic conditions in individual markets may have a particularly volatile effect on segment results. Among the other factors which may affect future performance are: changes in business relationships with and purchases by or from major customers or suppliers, including delays or cancellations in shipments or significant changes in financial condition; uncertainties surrounding timing, successful completion or integration of acquisitions; threats associated with and efforts to combat terrorism; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; competitive market conditions and resulting effects on sales and pricing; increases in raw material costs that cannot be recovered in product pricing; the company's ability to manage costs related to employee retirement and health care benefits and insurance; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them.
Parker Hannifin Corporation-0- 02/04/2009/CONTACT: Media, Christopher M. Farage, Vice President, Corp. Communications +1-216-896-2750, email@example.com, or Financial Analysts, Pamela Huggins, Vice President & Treasurer, +1-216-896-2240, firstname.lastname@example.org, both of Parker Hannifin Corporation/ /Photo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, email@example.com/ /Web site: http://www.phstock.com / (PH) CO: Parker Hannifin Corporation; European CommissionST: OhioIN: ARO CPR SU: LAW MI-KN -- CLW109 -- 5044 02/04/2009 17:00 ESThttp://www.prnewswire.com