Franklin Electric Co. Inc. today reported second-quarter earnings of $27.1 million, or 55 cents per diluted share, a 4 percent decline from the $28.1 million, or 58 cents a share, posted for the same three months of 2013.
The Fort Wayne-based manufacturer's net sales increased by 8 percent, to $284 million, during the three months ended June 28 compared to last year's second quarter.
Franklin Electric designs and makes submersible motors and pumping systems used to move water and fuel. Customers include homeowners, cities and companies in commercial, agricultural and other industries worldwide. Political issues in Southeast Asia, labor issues in Africa and order timing in some markets are among the factors that reduced earnings.
Total sales and adjusted earnings for the second quarter set records for any quarter in the company's history, officials said.