Graco Inc.

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SEC Filings

10-Q
GRACO INC filed this Form 10-Q on 10/25/2017
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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  
 
Nine Months Ended
 
September 29,
2017
 
September 23,
2016
 
September 29,
2017
 
September 23,
2016
Net Sales
 
 
 
 
 
 
 
Americas
$
74.9

 
$
66.8

 
$
219.8

 
$
201.3

EMEA
52.1

 
44.4

 
146.1

 
134.2

Asia Pacific
51.5

 
39.7

 
143.8

 
119.5

Total
$
178.5

 
$
150.9

 
$
509.7

 
$
455.0

Operating earnings as a percentage of net sales
35
%
 
34
%
 
35
%
 
32
%

The following table presents the components of net sales change by geographic region for the Industrial segment:
 
Three Months Ended   
 
Nine Months Ended
 
Volume and Price
 
Acquisitions
 
Currency
 
Total
 
Volume and Price
 
Acquisitions
 
Currency
 
Total
Americas
11%
 
1%
 
0%
 
12%
 
9%
 
0%
 
0%
 
9%
EMEA
13%
 
0%
 
5%
 
18%
 
10%
 
0%
 
(1)%
 
9%
Asia Pacific
30%
 
1%
 
(1)%
 
30%
 
22%
 
1%
 
(3)%
 
20%
Segment Total
17%
 
0%
 
1%
 
18%
 
12%
 
1%
 
(1)%
 
12%

Sales increased in all Industrial segment product applications. Year-to-date operating margin rate for the Industrial segment increased 3 percentage points compared to last year. Favorable effects of higher sales volume and expense leverage were partially offset by the unfavorable effect of currency translation.

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   
 
Nine Months Ended
 
September 29,
2017
 
September 23,
2016
 
September 29,
2017
 
September 23,
2016
Net Sales
 
 
 
 
 
 
 
Americas
$
47.9

 
$
43.0

 
$
139.1

 
$
124.3

EMEA
12.4

 
12.7

 
41.2

 
40.1

Asia Pacific
13.4

 
11.4

 
36.8

 
31.7

Total
$
73.7

 
$
67.1

 
$
217.1

 
$
196.1

Operating earnings as a percentage of net sales
16
%
 
15
%
 
18
%
 
13
%


17

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