FRANKLIN ELECTRIC REPORTS THIRD QUARTER 2014 SALES AND EARNINGS

Fort Wayne, Indiana – October 29, 2014 - Franklin Electric Co., Inc. (NASDAQ:FELE) reported third quarter 2014 adjusted earnings per share (EPS) of $0.50 compared to 2013 third quarter adjusted EPS of $0.50, flat to last year (see table below for a reconciliation of GAAP EPS to the adjusted EPS). In the third quarter of 2014, the Company’s GAAP fully diluted EPS was $0.46, which was down 10 percent to the GAAP fully diluted EPS from the third quarter of 2013.

Third quarter 2014 sales were $278.1 million, an increase of 11 percent compared to 2013 third quarter sales of $249.8 million and a record for any third quarter in the Company’s history. The Company’s organic sales growth was about 8 percent excluding acquisitions and the impact of foreign currency translation.

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

“Despite an unfavorable sales mix shift in our Water businesses, we are pleased to report record sales for the third quarter of 2014 and adjusted earnings per share equal to last year’s third quarter, which were the highest adjusted earnings per share for any third quarter in the Company’s history.

“Our Fueling Systems business contributed solid results in the quarter with revenues growing by nearly 20 percent and adjusted operating income increasing by 26 percent.

“During the third quarter we announced two acquisitions in India, one in Water and one in Fueling. Both of these acquisitions, along with the Bombas Leao acquisition in Brazil during the second quarter, will further expand our reach and distribution channels into developing regions and markets. Sales in developing regions were about 40 percent of our consolidated revenues and were another solid achievement in the quarter, growing by 20 percent from the third quarter of the prior year.”

Documents

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.