Hubbell's Q4 sales of $740 million (up 16%) contributed to the company's full-year total of $2.87 billion (up 13% vs. 2010). That didn't lead to an overly optimistic view for this year's results on the part of Timothy Powers, chairman, president and CEO.
"We expect overall sales to increase in the 4% to 6% range with both segments contributing. The sales growth is expected to be 2% to 4% from organic volume and another 2% from the combination of pricing and acquisitions," Powers said.
He continued, "Within our Electrical segment, we expect 3% to 5% growth as the industrial market and renovation and relight are anticipated to grow while the new construction markets, non-residential and residential, are anticipated to slowly begin to turn up during the year.
"The Power segment is expected to grow in the 6% to 8% range as our utility customers are likely to increase spending for distribution products. We also anticipate the recent growth trends we have experienced for transmission related projects will continue in 2012 and beyond."
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