* Q3 shr $0.94 vs. $0.77 expected
* Q3 sales up 12 pct to $2.6 bln
* Sees 2010 EPS $2.95 to $3.15, stable 2011 environment
(Adds details on orders, outlook)
NEW YORK, April 20 Parker Hannifin Corp (PH.N)
reported higher-than-expected profit on Tuesday, helped by
demand for its climate and industrial control products and
international sales, and the company raised its full-year
forecast above Wall Street estimates.
The company also said orders were up 23 percent, providing
evidence that the global economic recovery is sustainable.
Net earnings nearly tripled to $154 million, or 94 cents
per share, in the third quarter ended on March 31, from $53.4
million, or 33 cents per share, a year earlier.
Analysts on average expected profit of 77 cents per share,
according to Thomson Reuters I/B/E/S.
Revenue rose 12 percent to $2.6 billion, above Wall Street
forecasts of $2.51 billion. Sales were also up by double-digits
from the prior quarter.
Parker said it expected a more stable operating environment
next fiscal year, while it raised its estimates for 2010, which
has just one quarter remaining.
It expects 2010 earnings of $2.95 to $3.15 per share from
continuing operations, compared with the analysts' average
estimate of $2.75.
(Reporting by Nick Zieminski; Editing by Lisa Von Ahn)