Hubbell Inc., Orange, Conn., reported first-quarter profit fell because of a lower level of sales than it expected in its electrical segment.
Net income for the first quarter was $28.8 million, down from $35 million, a year earlier. Sales in the quarter were $487.6 million or a 5 percent increase over sales of $465.2 million reported during last year’s first quarter.
“The quarter’s results were disappointing,” said Timothy H. Powers, chairman, president and chief executive off
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