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Record Results
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Business New Haven
8/24/1998
By: Kristine Hansen
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ORANGE - Hubbell Inc. (NYSE: HUBa, HUBb) announced record earnings per share, earnings and revenues for both the first half and second quarter of 1998 ended June 30. Net income of $44.2 million for the second quarter reflected a 6.6-percent increase over 1997 second quarter net income of $41.4 million. Sales for the quarter were $372.5 million, a 5.6-percent increase over 1997 second quarter sales of $352.9 million. EPS for the second quarter 1998 rose to 65 cents per share diluted, compared to 60 cents a share diluted for second quarter 1997. For the first half of 1998, net income was recorded at $84.0 million ($1.23 per share diluted), an eight-percent hike over 1997 first half net income of $77.7 million ($1.13 per share diluted). Revenues of $712 million for the first half marked a five-percent increases over the first half 1997 figure of $677.6 million.
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