Baldor Electric Co. - Conference Presentation Calls

Baldor Electric Co. reported unaudited earnings results for the third quarter and nine months ended October 3, 2009. The company reported sales of $380.4 million, net earnings of $12.6 million and diluted earnings per share of $0.27. This compares to third quarter 2008 sales of $506.2 million, net earnings of $25.8 million, and diluted earnings per share of $0.55. Operating profit was $52.5 million against $61.7 million last year. Income before income taxes was $20.2 million against $38.4 million last year For the nine months, the company reported sales of $1,167 million, net earnings of $56.8 million and diluted earnings per share of $1.22. This compares to nine months 2008 sales of $1,480 million, net earnings of $80.8 million, and diluted earnings per share of $1.74. Operating profit was $141.8 million against $197.3 million last year. Income before income taxes was $91.5 million against $124.4 million last year. YTD cash flows from operations of $151.7 million. The company expects more in the fourth quarter resulting in year-over-year improvement in fourth quarter operating margin. The company expects fourth quarter 2009 sales to be down approximately 20%-25% from one year ago partly because fourth quarter 2008 contained 14 weeks and fourth quarter 2009 contains 13 weeks. It continues to be difficult to forecast sales for 2010. However, believes positioned to perform better during 2010 because of the improvements made this year 2009.

Baldor Electric Co. expected to Report Fiscal Year 2009 Results on February 12, 2010. This event was calculated by Capital IQ (Created on October 5, 2009).