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Parker-Hannifin fiscal Q2 profit climbs 12.1% YOY

Parker-Hannifin Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2016, came to $1.30 per share, compared with the S&P Capital IQ consensus estimate of $1.39 per share.

EPS climbed 13.1% year over year from $1.15.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $177.2 million, a gain of 12.1% from $158.1 million in the prior-year period.

The normalized profit margin climbed to 6.6% from 5.8% in the year-earlier period.

Total revenue declined year over year to $2.67 billion from $2.71 billion, and total operating expenses decreased from the prior-year period to $2.37 billion from $2.43 billion.

Reported net income grew 32.6% from the prior-year period to $241.7 million, or $1.78 per share, from $182.3 million, or $1.33 per share.