Hubbell Incorporated (HUBB)

Hubbell Incorporated engages in the engineering, manufacture, and sale of electrical and electronic products for a range of commercial, industrial, telecommunications, utility, and residential applications in the United States and internationally. It operates through three segments: Electrical, Power, and Industrial Technology. The Electrical segment offers stock and custom products, including standard and special application wiring device products, lighting fixtures and controls, fittings, switches and outlet boxes, enclosures, wire management products, and voice and data signal processing components. These products are sold through distributors, lighting showrooms, home centers, telephone, and telecommunications companies. The Power segment provides various construction, switching and protection products, hot line tools, grounding equipment, cover ups, fittings and fasteners, cable accessories, insulators, arresters, cutouts, sectionalizers, and connectors and compression tools for the building and maintenance of overhead and underground power and telephone lines, as well as applications in the industrial, construction, and pipeline industries. These products are sold to electric utilities, mining operations, industrial firms, and engineering and construction firms. The Industrial Technology segment offers test and measurement equipment; high voltage power supplies and variable transformers; industrial controls, including motor speed controls; pendant-type push-button stations; overhead crane controls; ‘Gleason Reel’ electric cable and hose reels; and specialized communications systems, such as intra-facility communications systems, telephone systems, and land mobile radio peripherals. These products are sold to steel mills; industrial complexes; oil, gas, and petrochemical industries; seaports; transportation authorities; the security industry; and cable and electronic equipment manufacturers. Hubbell was founded in 1888 and is based in Orange, Connecticut.

For the three months ended 31 March 2006, revenues increased 18% to $573M. Net income increased 38% to $39.7M. Revenues reflect an increase in turnover from Electrical, Power and Industrial Technology segments. Net income benefited from an increase in operating income due to a decrease in special charges relating to Electrical segment streamlining and a decrease in net interest expense due to lower level of fixed rate indebtedness.