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   Non-TechEmerson (EMR)

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From: JakeStraw11/12/2008 8:04:58 AM
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Buy Emerson Electric|headline|quote|text|&par=yahoo

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From: JakeStraw11/12/2008 10:21:54 AM
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Emerson, Qatargas Sign Comprehensive 5-Year Support And Service Agreement For Expanding LNG Production
Wednesday November 12, 10:00 am ET

DOHA, Qatar--(BUSINESS WIRE)--Emerson Process Management, a business of Emerson (NYSE: EMR), has entered into a long-term support and service agreement with Qatargas Operating Company Ltd. for its expanding liquefied natural gas (LNG) operations.

Under the five-year agreement, Emerson will provide asset management services, advanced skills training, and a comprehensive parts management program. Emerson also has established a dedicated team of experienced engineers who are residents in Qatar to work closely day-to-day on-site at the Qatargas facility in Ras Laffan with their Qatargas counterparts. Emerson already has a long term alliance in place with Qatargas for supply of Emerson’s digital automation solutions, including PlantWeb® digital plant architecture and smart instrumentation.

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From: JakeStraw2/3/2009 7:48:32 AM
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Emerson Reports First Quarter 2009 Results

Sales of $5.4 billion Earnings per share of $0.60 Expect full year earnings per share of $2.70 to $2.95 Expect operating cash flow of $3.2 to $3.4 billion
Tuesday February 3, 2009, 6:45 am EST

ST. LOUIS--(BUSINESS WIRE)--Emerson (NYSE: EMR - News) announced that net sales for the first quarter ended December 31, 2008 were $5.4 billion, a decline of 2 percent from $5.5 billion reported in the same period last year. This includes underlying sales (which exclude acquisitions, divestitures and foreign currency translation) that were essentially flat, a 4 percent unfavorable impact from foreign currency translation, and growth from acquisitions of 2 percent. Underlying sales in the United States declined 7 percent and underlying international sales increased 7 percent, including 10 percent growth in emerging markets.

Earnings and earnings per share from continuing operations for the first quarter were $458 million and $0.60 respectively, versus $519 million and $0.65 in the same period last year. This represents an 8 percent decline in earnings per share from continuing operations. Higher restructuring in the current year and lower gains compared to last year negatively impacted earnings per share comparisons by $0.08. Including the impact of discontinued operations in the first quarter of fiscal year 2008, net earnings per share for the first quarter declined 15 percent.

“Emerson has performed extremely well considering the severe market conditions that we have faced in recent months,” said Chairman, CEO and President David N. Farr. “Our financial position remains strong, and we are taking advantage of this economic downturn to improve our competitive position. In troubled times, customers turn to industry leaders like Emerson for stability and reliable performance.”

The operating profit margin declined 20 basis points in the quarter to 14.8 percent. Cost reduction initiatives and restructuring benefits mitigated deterioration of the operating profit margin in a challenging environment of increased commodity inflation and volume deleverage. As anticipated, the pretax earnings margin for the first quarter was 12.3 percent compared to 14.0 percent in the prior year period due to restructuring of $43 million versus $9 million in the prior year. In addition, the first quarter of 2008 included $64 million in gains related to the sale of an equity investment and facility versus $4 million in 2009.

“Emerson will continue to drive innovation across the company,” Farr said. “While economic conditions may cause us to be more selective about where we invest, we will continue to invest for future growth and long-term value creation.”

Business Segment Highlights

Process Management reported sales growth in the quarter of 8 percent. Underlying sales growth was 14 percent, which excludes a 6 percent unfavorable impact from currency translation. Global sales were strong, with underlying sales growth in the United States of 10 percent and international growth of 16 percent. Technology leadership continued in Process Management as evidenced by 25 first place awards in Control magazine’s Readers’ Choice Awards, including a first-place award for Wireless Infrastructure. The margin for this segment improved 140 basis points to 19.4 percent, driven by volume leverage and cost reduction programs.

Industrial Automation sales declined 2 percent in the quarter. Underlying sales increased 2 percent, which excludes an unfavorable currency impact of 5 percent and a positive 1 percent impact from the recently completed System Plast acquisition. System Plast is a European-based manufacturer of engineered modular belts and custom conveyor components. This acquisition will strengthen Emerson’s position in the global material handling market serving the food and beverage industry. The margin contracted 130 basis points to 13.9 percent with higher pricing more than offset by significant material cost increases. The margin decrease also reflects negative mix on lower sales volume of higher margin business.

Network Power achieved sales growth of 2 percent in the quarter. Underlying sales were flat with a positive 6 percent impact resulting from the Embedded Computing acquisition and a 4 percent negative impact from currency translation. Strength in the China power systems and inbound power businesses was offset by weakness in the uninterruptible power supply, precision cooling and embedded power businesses. The margin for this segment was 10.4 percent versus 12.8 percent in the prior year quarter driven primarily by dilution from acquisitions and the $17 million increase in restructuring costs.

Climate Technologies sales declined 10 percent in the quarter. Underlying sales decreased 7 percent with an additional 3 percent unfavorable impact from currency translation. The sales decline represents broad-based weakness across U.S. and Asian air-conditioning and refrigeration markets. The margin deteriorated from 13.4 percent to 7.7 percent amid substantial material cost pressure, volume deleverage, increased restructuring costs of $13 million, and a negative $13 million impact from foreign currency transactions related to the strengthening of the U.S. dollar in 2009 versus weakening in 2008.

Appliance and Tools sales decreased 17 percent in the quarter, which included a 1 percent unfavorable impact from currency translation. Continued wide-spread weakness in U.S. consumer and residential markets coupled with customers’ destocking and reduced production schedules led to the overall sales decline. Profitability for this segment declined 390 basis points to 10.2 percent, with deleverage from volume declines and continued material cost pressure impacting the segment margin.

Balance Sheet / Cash Flow

In the first quarter, operating cash flow was $319 million and capital expenditures were $132 million resulting in free cash flow (operating cash flow less capital expenditures) of $187 million, a decline of 37 percent versus the prior year period. This decline was primarily the result of lower earnings in the quarter and an $81 million margin deposit for commodity futures contracts. Historically, first quarter cash flow tends to be lower than in the remaining quarters of the fiscal year. The cash flow to total debt position remains strong at 60 percent, allowing for continued investment in the business and support of the dividend.

“As we have done for many years through the cycles, we will continue to focus on our core strategies, including investment in best cost locations and in technology and new products. We’re positioning Emerson for a strong breakout when the global economy recovers,” Farr said. “A strong cash position makes this possible. We are targeting a strong year in free cash flow at 11.0 to 11.5 percent of sales for fiscal year 2009. Our ability to generate cash demonstrates the underlying strength of the business and enables us to fund growth, both organic and through acquisitions.”

2009 Outlook

Based on performance in the quarter and recent order patterns, Emerson expects full year earnings per share in the range of $2.70 to $2.95. This estimate is based on an anticipated underlying sales decline in the range of 3 percent to 6 percent. Emerson is estimating a 5 percent unfavorable impact from currency translation and a 3 percent favorable impact from completed and future acquisitions resulting in a reported sales decline in the range of 5 percent to 8 percent, or $23 to $23.7 billion. Operating profit margin and pre-tax margin are expected to be in the range of 15.9 to 16.4 percent and 13.0 to 13.8 percent respectively. The free cash flow target is $2.5 to $2.7 billion and the operating cash flow target is $3.2 to $3.4 billion. Detailed assumptions on the 2009 outlook will be provided in the Company’s Investor Conference in New York City on Friday, February 6th.

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From: JakeStraw5/5/2009 8:37:45 AM
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Emerson Reports Second Quarter 2009 Results

* Sales of $5.1 billion
* Earnings per share of $0.49
* Full-year 2009 outlook reaffirmed

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From: JakeStraw6/18/2009 9:34:02 AM
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Emerson May orders down, but improved from April

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From: JakeStraw7/14/2009 3:32:26 PM
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Emerson Joins Secure Energy, Inc. to Help Build New Coal Gasification Plant in Illinois
Emerson to Serve as Main Automation Contractor, Integrating Five Suppliers in Clean Processing of Coal to Natural Gas, Helping Foster American Energy Independence

Tuesday July 14, 2009, 3:00 pm EDT

AUSTIN, Texas--(BUSINESS WIRE)--Emerson Process Management, a business of Emerson (NYSE:EMR), has formed a strategic relationship with Secure Energy, Inc. to help build a $800 million alternative energy plant in Decatur, Illinois, the first coal gasification-to-synthetic natural gas plant to be constructed in the United States in two decades.

According to this strategic relationship, Emerson will serve as the main automation contractor (MAC), responsible for managing and digitally automating the Secure Energy plant that will convert 1.4 million tons/year of Illinois coal into 21 billion cubic feet of pipeline quality natural gas. The modular facility is a template for four additional clean coal plants that Secure Energy intends to construct in other parts of the United States. Emerson will establish automation and process control protocols that can be modified as necessary to create plants that are coal-to-diesel, coal-to-gasoline, coal-to-fertilizer or other clean coal processes.

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From: JakeStraw7/30/2009 9:50:08 AM
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Emerson and Sun Announce Global Sales Alliance; Design Energy-Efficient Next-Generation Datacenter Solution for Sandia National Laboratories
July 30, 2009, 9:00 am EDT

To address the need for energy-efficiency improvements, Sun's datacenter efficiency consultants will work directly with Emerson’s local Liebert power, cooling and services specialists throughout the world to assess, develop and maintain solutions to a variety of customer datacenter problems. The companies will deliver not only the plans but also the products and services for improved data center productivity and efficiency.

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From: JakeStraw8/4/2009 7:51:24 AM
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Emerson Announces Third Quarter 2009 Results

* Sales of $5.1B, flat with second quarter 2009
* Earnings per share of $0.51
* Free Cash Flow of $800M, Up 19% from third quarter 2008; Operating Cash Flow of $916M, Up 11%
* Expects full year earnings per share $2.20 to $2.30

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From: JakeStraw8/5/2009 8:09:59 AM
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Emerson Electric Co. F3Q09 (Qtr End 06/26/09) Earnings Call Transcript

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From: JakeStraw8/24/2009 10:40:43 AM
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Emerson chosen by Dynamic Fuels to digitally automate first commercial-scale renewable diesel plant in North America

Emerson’s PlantWeb® digital architecture selected for revolutionary venture between Tyson Foods, Inc., and Syntroleum Corporation to convert animal fats and greases into ultra-clean, renewable diesel

Monday August 24, 2009, 9:00 am EDT

AUSTIN, Texas--(BUSINESS WIRE)--Dynamic Fuels, a 50/50 venture of Tyson Foods, Inc., and Syntroleum Corporation, has awarded Emerson Process Management the contract to digitally automate North America’s first commercial-scale renewable diesel plant. With Emerson’s PlantWeb® digital architecture, Dynamic Fuels will gain optimum control through the networking of thousands of Emerson smart devices, systems, and predictive maintenance software.

The $138 million facility in Geismar, La, which is scheduled to begin operations in early 2010, will use Syntroleum’s revolutionary biofuels manufacturing process – Bio-Synfining™ – with plans to convert animal fats and greases into 75 million gallons/year of ultra-clean, renewable diesel fuel. With some plant modifications, the Geismar facility can also produce renewable jet fuel.

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