Fort Wayne, Indiana – July 28, 2014 - Franklin Electric Co., Inc. (NASDAQ:FELE) reported second quarter 2014 adjusted earnings per share (EPS) of $0.60 compared to 2013 second quarter adjusted EPS of $0.59, a 2 percent increase (see table below for a reconciliation of GAAP EPS to the adjusted EPS). In the second quarter of 2014, the Company’s GAAP fully diluted EPS was $0.55 which was down 5 percent to the GAAP fully diluted EPS from the second quarter of 2013.

Second quarter 2014 sales were $284.5 million, an increase of 8 percent compared to 2013 second quarter sales of $263.4 million. The Company’s organic sales growth was about 9 percent excluding acquisitions and the impact of foreign currency translation.

Gregg Sengstack, Franklin Electric’s Chief Executive Officer, commented:

“We are pleased to report that our sales and adjusted net income for the second quarter of 2014 were again records for any quarter in the Company’s history. During the second quarter 2014, our consolidated operating income after non-GAAP adjustments grew by 3 percent compared to the second quarter of 2013 driven by a 25 percent increase in Fueling Systems operating income, a near doubling of Pioneer Pump sales globally and double digit earnings growth of our Water Systems businesses in Europe and the Middle East. These positive factors were partially offset in the quarter by lower Water Systems profitability due to a shift in sales mix. Additionally, in certain developing region markets, most notably Asia Pacific, a combination of factors lowered overall profitability. Consolidated adjusted operating income margin declined in the second quarter by 80 basis points.”


The financial information on this page about Franklin Electric Co., Inc. has previously been made available for public dissemination through press releases. The placement of such press releases on this particular page of the Franklin Electric Company website is intended to set apart and distinguish financial information from other non-financial information found on this site, including product, service, marketing and technical information. Regardless of the language used and the resulting interpretations that may or could be reached, such product, service, marketing, technical, and/or any other information found within other pages of this site should in no way be construed to be financial in nature or represent the past, current or future financial results of Franklin Electric Co., Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including but not limited to, general economic and currency conditions, various conditions specific to the Company's business and industry, market demand, competitive factors, supply constraints, technology factors, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Securities and Exchange Commission filings. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. We do not assume any obligation to update any forward-looking information. While we may elect to update the forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.

We Value Your Feedback