Minneapolis, Minnesota – Machinery maker Graco reported a sales increase across all its geographic regions during the fourth quarter of 2013, with a double-digit percentage growth in Asia Pacific for that period.
In consolidated results, sales were up 7%. In the America’s, sales increased by 4%, 8% in EMEA and a staggering 14% in Asia Pacific.
Over the entire year, sales rose by 9% and the company’s cash flow from operations stood at $243m (EUR178m) – 28% more than last year.
Graco's president and CEO Patrick McHale said: "Graco reported record sales and earnings for the full year and in each quarter of 2013, including the fourth quarter."
"Industrial project activity was surprisingly strong in China in the fourth quarter, which lifted our Asia Pacific region to a double-digit performance for the quarter and brought the region back to modest growth for the full year,” he added.
Graco posted fourth quarter and annual growth in every reportable segment and region in 2013, with the exception of its lubrication segment, which was down slightly in the quarter and flat on the year.
XE Currency converter: January 29
