This first week of November saw two companies reporting robust 3rd quarter results because of the continuing deployment of Lean Six Sigma. The two companies experienced both gains and losses, increases and decreases due to several factors, still they continue their Lean and Six Sigma efforts. Persistence and continuous are the keywords here.
First to report was Regal Beloit Corporation, a leading manufacturer of mechanical and electrical motion control and power generation products:
Income from operations was $53.4 million or 11.9% of sales, an increase over the $53.0 million or 12.7% of sales reported for the third quarter of 2006. Operating expenses included a pre-tax charge of $1.8 million resulting from settlement of the Enron legal matter. The acquired businesses contributed $0.9 million to income from operations.
Net income in the third quarter of 2007 was $31.2 million, a 5.0% increase from $29.7 million reported in the third quarter of 2006. Diluted earnings per share increased 3.4% to $0.92 as compared to $0.89 for the third quarter of 2006.
“We continue to believe that our Lean Six Sigma, Digitization, Globalization, Innovation and Customer Centricity initiatives will provide the foundation for continued profitable growth and our ability to continue to provide high levels of returns to shareholders,” said Henry W. Knueppel, Chairman and CEO.Read more…
Source: EarthTimes, an iSixSigma featured link
Next to report was Cleveland-Cliffs Inc., a world leader in iron ore and metallurgical coal mining company:
- Consolidated Revenues Rise 7% to $620 Million, with Net Income of $57 Million, or $1.08 Per Diluted Share
- Company Reaffirms 2007 Iron Ore Sales Outlook at 22 Million Tons in North America and Eight Million Tonnes in Asia-Pacific
- PinnOak Resources Acquisition Provides Cliffs 4.5 Million Ton Metallurgical Coal Position in 2008
Joseph A. Carrabba, Cliffs’ chairman, president and chief executive officer said, “During the third quarter, we continued to control costs in North American Iron Ore extremely well. We are benefiting from our six sigma efforts as well as proactive maintenance programs performed at many of our mines during downtime in the first half of the year.”
Source: BusinessWire, an iSixSigma featured link
