News For GGG From The Last 14 Days Check below for free stories on GGG the last two weeks.
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January 27, 2010
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| 09:09 EDT |  | GGG |
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January 26, 2010
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| 11:57 EDT |  | GGG |
| theflyonthewall.com: | Graco sees modest recovery in FY10, with Asia leading the way | | Graco (GGG) reported better than expected Q4 results and fore-casted a modest economic recovery in FY10. The company sees the Asia Pacific markets driving sales growth in the coming year, with Europe and North America contributing only marginally. Graco built a strong backlog of orders in Q4 which should favorably impact Q1 results. Q1 margins are also expected to increase slightly. CEO Patrick McHale noted, "We are seeing initial signs of recovery, but it will likely be slow in the coming quarters. Asia is showing modest growth, and we are waiting for the turn in Europe and North America." The company plans to allocate roughly $40M for product development spending in FY10, with another $15M devoted to CapEx. Overall, McHale thinks the economy has bottomed and expects modest improvements in business conditions in FY10. These comments were made on Graco's Q4 earnings conference call. :theflyonthewall.com |
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