Due to the global economic recession, which led to a drop in demand for products, the fourth-quarter profit of Eaton ( Part of Warren Buffett Holdings) fell 36 percent from the same period last year of 256 million U.S. dollars, or 1.71 U.S. dollars per share, fell to 163 million U.S. dollars, or 98 cents per share.
Quarter revenue growth of 3.3 percent from a year earlier to 3.37 billion U.S. dollars of the 3.49 billion U.S. dollars.
Last week, the company announced that as part of its cost-cutting part of the plan, to lay off 5,200 people. Eaton last year the number of its global workforce during peak periods from about 8 million people laid off about 10%.
As per Sep 08 shareholding pattern of Eaton Corp, Warren Buffett's Berkshire Hathaway is holding 2,908,700 shares.
Quarter revenue growth of 3.3 percent from a year earlier to 3.37 billion U.S. dollars of the 3.49 billion U.S. dollars.
Last week, the company announced that as part of its cost-cutting part of the plan, to lay off 5,200 people. Eaton last year the number of its global workforce during peak periods from about 8 million people laid off about 10%.
As per Sep 08 shareholding pattern of Eaton Corp, Warren Buffett's Berkshire Hathaway is holding 2,908,700 shares.
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