Graco Inc. has announced results for the quarter and six months ended June 25, 2010. All divisions and regions had double-digit percentage revenue growth for the quarter and year-to-date. The year-to-date gross margin rate of 53.5% percent was 5.5 percentage points higher than last year’s first-half rate. Net earnings as a percentage of sales increased to 13% for the year-to-date period, up from 5% for the comparable period last year.
“Revenue growth continued to drive improved earnings in the second quarter,” said Patrick J. McHale, president and CEO. “Sales gains were strong worldwide, with Asia Pacific leading the way with a 53% increase over last year. New product introductions led to improved results for the Contractor segment, and solid sales growth continued in the Industrial and Lubrication segments.”
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