CLEVELAND, Oct. 11 /PRNewswire-FirstCall/ -- Parker Hannifin (NYSE: PH), the world leader in motion and control systems and technologies, announced that it has been ranked in the top fifteen percent of InformationWeek magazine's prestigious list of the top 500 innovative information technology companies in the United States.
For the past 18 years, the annual InformationWeek 500 survey has identified companies that demonstrate patterns of technological, procedural and organizational innovation through the use of information technology. 2006 marks the 11th year in a row Parker has been included among the top 500.
The survey examines core areas of operations including information technology budgets, technology deployment, e-business, customer knowledge and infrastructure, and recognizes those business and technology strategies that improve the customer service experience. Additional details on the InformationWeek 500 can be found online at http://www.informationweek.com/iw500.
"We are pleased to be recognized once again for our commitment to using information technology to drive premier customer service, profitable growth and financial performance at Parker," said William Eline, Parker Hannifin Vice President and Chief Information Officer. "We will continue to manage our information technology investments to best meet the needs of the entire range of Parker stakeholders -- customers, distributors, suppliers, employees and investors."
"We'd like to extend our sincere congratulations to all InformationWeek 500 honorees. These companies represent today's leading technology innovators," added InformationWeek publishing director, Fritz Nelson.
InformationWeek sets the agenda for business technology executives, covering the full range of information access points IT decision-makers use today. A trusted, authoritative source and information filter, InformationWeek helps community members understand and focus on what's important up-to-the-minute -- in print, online, through independent research and at live, peer-to-peer events. Through its cross-media platform, InformationWeek delivers content to complement the print publication to its community of business technology leaders when and how they want it, 24/7. The InformationWeek community includes an audience of 2.5 million CIOs, IT executives and business managers who cut across industries, job titles, company sizes and global borders.
InformationWeek is consistently recognized for its commitment to excellence and thought leadership by the IT community, receiving many of the industry's top media accolades, including several awards from the American Society of Business Publication Editors (ASBPE), top spots in BtoB Magazine's Media Power 50 and Circulation Excellence Awards from Circulation Management Magazine.
With annual sales exceeding $9 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs more than 57,000 people in 43 countries around the world. Parker has increased its annual dividends paid to shareholders for 50 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's web site at http://www.parker.com, or its investor information site at http://www.phstock.com.
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 both its industrial and aerospace markets, and the company's ability to achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, and growth and innovation 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; uncertainties surrounding timing, successful completion or integration of acquisitions; threats associated with and efforts to combat terrorism; 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 and interest rates. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them.
SOURCE Parker Hannifin Corporation 10/11/2006 CONTACT: Christopher Farage, Vice President Corp. Communications of Parker Hannifin Corporation, +1-216/896-2750, or email@example.com