UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): August 1, 2006
Emerson Electric Co.
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(Exact Name of Registrant as Specified in Charter)
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Missouri --------------------------- (State or Other |
1-278 ------------------- (Commission |
43-0259330 --------------------------- (I.R.S. Employer |
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8000 West Florissant Avenue ---------------------------------------------------- (Address of Principal Executive Offices) |
63136 ------------------ (Zip Code) |
Registrant’s telephone number, including area code:
(314) 553-2000
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition.
Quarterly Results Press Release
On August 1, 2006, a press release was issued regarding the third quarter results of Emerson Electric Co. (the “Company”). A copy of this press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.
The press release contains non-GAAP financial measures as such term is defined in Regulation G under the rules of the Securities and Exchange Commission. While the Company believes these non-GAAP financial measures are useful in evaluating the Company, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Further, these non-GAAP financial measures may differ from similarly titled measures presented by other companies. The reasons why management believes that these non-GAAP financial measures provide useful information are set forth in the Company’s most recent Form 10-K filed with the Securities and Exchange Commission.
Item 7.01. Regulation FD Disclosure.
The following information is furnished pursuant to Regulation FD.
Emerson GAAP Underlying Orders – 3 Month Summary
(Percent change. Trailing 3-month average versus prior year.)
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Apr ’06 |
May ’06 |
June ’06 |
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Process Management |
+10 |
+15 |
+15 to +20 |
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Industrial Automation |
+5 to +10 |
+10 to +15 |
+10 to +15 |
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Network Power |
>20+ |
>20+ |
>20+ |
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Climate Technologies |
+5 to +10 |
+10 to +15 |
>20+ |
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Appliance and Tools |
0 to +5 |
+5 to +10 |
+5 to +10 |
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Total Emerson |
+10 to +15 |
+10 to +15 |
+15 to +20 |
June 2006 Order Comments:
Order growth accelerated for the three months ended in June as underlying business conditions remained strong. Favorable currency exchange rates contributed approximately 2 percentage points to the increase.
Process Management orders remained strong as the global energy markets continue to drive demand for this business. The order growth was balanced across the valves, measurement and systems businesses. Orders were also aided by the weaker dollar.
Orders for Industrial Automation remained strong driven by a favorable global capital spending environment. The growth for this segment was led by the power generating alternator and the electrical distribution businesses.
Network Power order growth remained at high levels driven by the power systems, embedded power and inbound power businesses.
Climate Technologies order growth reflected strength from the compressor business. The residential air-conditioning market continued the transition to higher efficiency 13-SEER units, driving market penetration gains for this business. Hot weather in the United States also drove demand.
Appliance and Tools had strong growth across the tools and storage businesses with particular strength in the disposer business. The motors business also had solid growth driven primarily by demand for HVAC motors.
Upcoming Investor Events
Emerson senior management will discuss the Company’s third quarter 2006 results during an investor conference call that will be held on Tuesday, August 1, 2006. The call will begin at 2:00 p.m. Eastern Daylight Time (1:00 p.m. Central Daylight Time).
All interested parties may listen to the live conference call via the Internet by going to the Investor Relations area of Emerson’s Web site at www.gotoemerson.com/financial and completing a brief registration form. A replay of the conference call will be available for the next three months at the same location on the Web site.
Updates and further details of these and other upcoming events will be posted in the Calendar of Events area in the Investor Relations section of the corporate Web site as they occur.
Item 9.01. Financial Statements and Exhibits.
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(d) |
Exhibits |
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Exhibit Number |
Description of Exhibits | ||
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99.1 |
Emerson’s August 1, 2006 Press Release announcing its third quarter 2006 results. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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EMERSON ELECTRIC CO. | |
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Date: August 1, 2006 |
By: |
/s/ Timothy G. Westman |
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Timothy G. Westman |
EXHIBIT INDEX
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Exhibit Number |
Description of Exhibits |
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99.1 |
Emerson’s August 1, 2006 Press Release announcing its third quarter 2006 results. |