News Column

BRIEF: Club Car parent company reports $306 million profit

July 22, 2014

The Augusta Chronicle, Ga.



July 22--Ingersoll-Rand, maker of Club Car golf cars and Trane air conditioners, reported second quarter profit of $306 million, or $1.12 a share, down from $317.2 million, or $1.05 a share, a year earlier.

The Irish company said its second-quarter earnings fell as restructuring-related and other costs offset an increase in revenue in both its industrial and climate segments.

Revenue in the industrial segment, which includes Club Car, increased to $794 million, up from $762 million a year ago. Specifically to Club Car, the company reported a slight decline in revenue because of decreased activity in the North American golf market.

The company in December spun off its commercial and residential security operations, known as Allegion PLC.

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(c)2014 The Augusta Chronicle (Augusta, Ga.)

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Source: Augusta Chronicle (GA)


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