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News

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Category: Market News
MINNEAPOLIS -- HEI, Inc. reported net sales of $55.8 million and net income of $1.1 million for the 16-month period ended Jan. 3.

The company had net profits of $243,000 for the four-month period ended Jan. 3.

The unusual 16-month reporting year (September 2007 to December 2008) came about because HEI modified its fiscal year to end on the Saturday closest to Dec. 31.

HEI had net income of $857,000 for the 12-month period ended Aug. 30, 2008, versus a net loss of $5.7 million the 12-month period ended Sept. 1, 2007.

In a statement, CEO Mark B. Thomas said HEI reported a 16-month period to save on costs of a separate audit for the original 12-month fiscal year and a subsequent four-month period.

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Category: Market News
HOFFMAN ESTATES, IL – Bosch Rexroth AG, parent company of Bosch Rexroth Corp., reported $8.3 billion in 2008 sales, up 9.8% year-over-year.

Sales in the Americas were up nearly 8%. The company anticipates a significantly weaker performance for the current fiscal year, but said it is maintaining its R&D investment.

The Bosch subsidiary spent around $364 million on R&D in 2008, or 4.5% of sales.

The growth experienced last year by the manufacturer of drive and control technologies was led by developments in the German, European and Asian markets.

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