Rexnord reports rising earnings, sales for third quarter

Milaukee-based Rexnord LLC reported increased earnings and sales for the third quarter of fiscal 2011, which included $420 million in net sales, a 15 percent increase from the third quarter of fiscal 2010, and $50 million in income from operations, a 36 percent increase.

The company’s EBITDA was $80 million for the third quarter, and Rexnord’s debt leverage ratio is now 5.8x, compared to 6.7x on March 31, 2010. The company’s

“We are pleased with our third quarter performance. Our investments in growth capabilities and improving fundamentals in some of our core industrial vertical markets should continue to deliver solid core sales growth and strong financial results,” said Todd A. Adams, president and chief executive officer.