Batesville-based Hillenbrand Inc. (NYSE: HI) is reporting fiscal full-year net income of $126.2 million, up from $112.8 million the previous year. The company says revenue also rose 3 percent to $1.6 billion due mainly to strong demand for plastics projects and screening and separating equipment.
Hillenbrand is also reporting fiscal fourth quarter net income of $38.2 million, up from $36 million during the same period last year. The company says growth in its Process Equipment Group businesses contributed both to the quarterly and full-year results.
"Our businesses performed exceptionally well in the fourth quarter, which contributed to record earnings per share and free cash flow for the year," said Joe A. Raver, president and chief executive officer of Hillenbrand. "Looking ahead to fiscal 2018, we expect continued organic growth in the Process Equipment Group, which is supported by our highest level of backlog in more than three years."
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