Eaton Corp. announced net income per share of $0.97 for the second quarter of 2011, an increase of 47% over the $0.66 earned in the second quarter of 2010.


Sales in the second quarter were $4.09 billion, 21% above the second quarter of 2010. Net income in the second quarter was $336 million compared to $226 million in 2010.

The Truck segment posted record quarterly sales of $673 million in the second quarter, up 37% compared to 2010.

Truck production in the second quarter was up 27%, with U.S. markets up 53% and non-U.S. markets up 5%. The segment reported operating profits of $120 million. Eaton earned a 17.8% profit margin in the segment this quarter.

The company expects the NAFTA Class 8 market to total 265,000 units in 2011.

Eaton's net income in both periods included charges for integration of acquisitions. Before these acquisition integration charges, operating earnings per share in the second quarter of 2011 were $0.97 compared to $0.68 per share in 2010, an increase of 43%. Operating earnings in the second quarter were $338 million compared to $232 million in 2010.