Graco Inc.

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SEC Filings

10-Q
GRACO INC filed this Form 10-Q on 04/26/2017
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Segment Results

Certain measurements of segment operations compared to last year are summarized below:

Industrial Segment

The following table presents net sales and operating earnings as a percentage of sales for the Industrial segment
(dollars in millions):
 
Three Months Ended  
 
March 31,
2017
 
March 25,
2016
Net sales
 
 
 
Americas
$
69.0

 
$
65.1

EMEA
44.1

 
44.2

Asia Pacific
43.3

 
37.8

Total
$
156.4

 
$
147.1

Operating earnings as a percentage of net sales
34
%
 
31
%

The following table presents the components of net sales change by geographic region for the Industrial segment:
 
Three Months Ended   
 
Volume and Price
 
Acquisitions
 
Currency
 
Total
Americas
6%
 
0%
 
0%
 
6%
EMEA
3%
 
1%
 
(4)%
 
0%
Asia Pacific
16%
 
1%
 
(3)%
 
14%
Segment Total
7%
 
1%
 
(2)%
 
6%

Improved conditions in Asia Pacific, strong project activity and timing of promotions in the Americas contributed to the increase in Industrial segment sales. Operating margin rates for the Industrial segment increased 3 percentage points compared to last year due to higher sales volume, improved gross margin rate and favorable expense leverage.

Process Segment

The following table presents net sales and operating earnings as a percentage of sales for the Process segment
(dollars in millions):
 
Three Months Ended   
 
March 31,
2017
 
March 25,
2016
Net sales
 
 
 
Americas
$
44.6

 
$
40.0

EMEA
14.9

 
13.9

Asia Pacific
10.5

 
10.4

Total
$
70.0

 
$
64.3

Operating earnings as a percentage of net sales
19
%
 
11
%


15

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