Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
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 3, 2010
Emerson
Electric Co.
(Exact
Name of Registrant as Specified in Charter)
Missouri
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1-278
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43-0259330
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(State
or Other
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(Commission
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(I.R.S.
Employer
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Jurisdiction
of
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File
Number)
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Identification
Number)
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Incorporation)
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8000
West Florissant Avenue
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St. Louis, Missouri
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63136
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(314)
553-2000
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:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ 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
3, 2010, a press release was issued regarding the third quarter 2010 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
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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April ‘10
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May ‘10
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June ‘10
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Process
Management
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+5
to +10
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-5
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0
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Industrial
Automation
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>+20
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>+20
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>+20
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Network
Power
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+5
to +10
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+5
to +10
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+10
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Climate
Technologies
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>+20
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>+20
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>+20
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Appliance
and Tools
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+5
to +10
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+5
to +10
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+5
to +10
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Total
Emerson
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+15
to +20
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+10
to +15
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+10
to
+15
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June 2010 Order
Comments:
Order
growth remained strong for the three months ended in June versus a period of
easier comparisons in the prior year. Currency exchange rates negatively
impacted orders by approximately 5 percentage points. Excluding currency,
the trailing three-month underlying order growth rate improved again and was at
the highest level since orders turned positive in February.
Process
Management trailing three-month underlying orders excluding currency
strengthened as MRO demand continued. Currency exchange rates negatively
impacted orders by approximately 11 percentage points. Project orders have
increased, mainly focused on small and medium size projects. Mega-project
quoting activity has increased, but is not expected to have an impact until
later in 2011.
Industrial
Automation order growth remained very high across all businesses, with
particular strength in the power generating alternators, electrical drives, and
power transmission businesses.
Orders
for Network Power continued to strengthen and were up 10 percent. Growth
in the embedded power, inbound power and embedded computing businesses was
partially offset by modest declines in the network power business in Asia.
Excluding the currency impact, modest growth resumed in the uninterruptible
power supply and precision cooling business.
Climate
Technologies trailing three-month orders remained strong globally, but order
growth is moderating as Climate Technologies moves into a period of more
difficult comparisons. Key drivers of order growth are broad strength
across Asian end markets, as well as European refrigeration, North American
residential replacement and stationary refrigeration, and global transport end
markets.
Appliance
and Tools order growth remained in the 5 to 10 percent range. Growth in
the tools, motors and appliance businesses was partially offset by weakness in
the residential storage business.
Upcoming Investor
Events:
Emerson
senior management will discuss the Company’s third quarter 2010 results during
an investor conference call that will be held on Tuesday, August 3, 2010.
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 website at www.Emerson.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
website.
August
31, 2010 – Morgan Stanley Global Industrials Unplugged Conference
Location: The New York Palace
Hotel in New York City
Time: 9:00 a.m. to 9:40 a.m.
Eastern Daylight Time
Presenter: Edward L. Monser, Chief
Operating Officer
Updates
and further details on these and other upcoming events will be posted in the
Calendar of Events area in the Investor Relations section of the corporate
website as they occur.
Item 9.01. Financial
Statements and Exhibits.
(d)
Exhibits.
Exhibit Number
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Description of Exhibits
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99.1
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Emerson’s
August 3, 2010 Press Release announcing its third quarter 2010
results.
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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.
(Registrant)
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Date: August
3, 2010
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By:
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/s/ Timothy
G. Westman
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Timothy
G. Westman
Vice
President, Associate General Counsel
and
Assistant
Secretary
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EXHIBIT
INDEX
Exhibit Number
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Description of Exhibits
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99.1
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Emerson’s
August 3, 2010 Press Release announcing its third quarter 2010
results.
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