Parker-Hannifin Corporation reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net sales of $3,065,495,000 compared to $3,106,832,000 a year ago. Income before income taxes was $262,629,000 compared to $338,947,000 a year ago. Net income attributable to common shareholders was $180,962,000 or $1.19 per diluted share compared to $240,766,000 or $1.56 per diluted share a year ago. The year-over-year decline in earnings per share reflect the continued weakness in Europe, Asia and Latin America. The company generated $354 million in operating cash flow in the quarter or 11.6% of sales. Operating income decreased from $196 million to $184 million, and that was a 6% decrease over the prior year. Operating margins of 15.4% for the quarter decreased 120 basis points from second quarter the last year.

For the six months period, the company reported net sales of $6,280,430,000 compared to $6,340,713,000 a year ago. Income before income taxes was $598,687,000 compared to $750,532,000 a year ago. Net income attributable to common shareholders was $420,703,000 or $2.77 per diluted share compared to $537,784,000 or $3.47 per diluted share a year ago. Net cash provided by operating activities was $347,338,000 compared to $563,416,000 a year ago. Capital expenditures were $140,221,000 compared to $96,897,000 a year ago.

The company provided earnings guidance for the fiscal year 2013. For the fiscal year ending June 30, 2013, the company has maintained guidance for earnings from continuing operations in the range of $6.15 to $6.75 per diluted share.