Minneapolis, Minnesota -- Polyurethane machinery maker Graco reported a sales increase of 13% to $322.5m (EUR240.6m) during Q2, 2014 – compared to $286m in Q2, 2013.
The company's net earnings increased from $57.8m in Q2, 2013 to $66.2m in Q2, 2014.
President and ceo Patrick McHale said: "After a solid first half of 2014, we are well positioned to achieve full-year growth in all segments and geographies.”
According to the report, the increase in sales was highest in the US at 15%, in EMEA (Europe, the Middle East and Asia) sales were 12% higher than Q2 2013 nd in Asia, sales were up 7% on Q2, 2013.
“Firming demand levels in the emerging markets of EMEA and China may provide upside to our outlook for mid-single-digit organic growth for the second half of the year," added McHale.
The report also stated that total operating expenses for Q2 2014 were $7.5m – 9% higher than second quarter last year. Year-to-date operating expenses were $13m, an 8% increase on operating expense in Q2, 2013.
XE Currency conversion: July 30, 2014
