Eaton Corp. reported first-quarter sales at a record $3.01 billion, 14 percent above the same period in 2005. Net income was $208 million, compared to $187 million in the first quarter of 2005.
First-quarter sales for the electrical segment were $965 million, up 14 percent over 2005. Operating profits in the first quarter were $103 million. Excluding acquisition integration charges of $2 million during the quarter, operating profits were $105 million, up 38 percent from 2005.
"End markets for our electrical business grew nearly 9 percent during the first quarter, the highest quarterly growth rate in the last five years," said Alexander M. Cutler, Eaton chairman and chief executive officer.
"The U.S. nonresidential construction market and the markets for uninterruptible power supply products registered solid growth, and the residential markets held up well during the quarter."