Emerson 2008 Annual Report Download - page 64



    2007 2008
Operating Profit:
Net Sales $22,131 
Cost of Sales 14,066 
SG&A Expenses 4,569 
Operating Profit (Non-GAAP) 3,496 
Operating Profit Margin %
(Non-GAAP) 15.8% 
Other Deductions, Net 175 
Interest Expense, Net 228 
Pretax Earnings $ 3,093 
Pretax Earnings Margin % 14.0% 
Net Sales:
Underlying sales (Non-GAAP) 
Foreign currency translation 
Acquisitions, divestitures 
Net sales (Reported) 
 

s e p t s e p t s e p t s e p t s e p t s e p t 
  2003 2004 2005 2006 2007 2008 CAGR
        
S&P 500 Index 100 114 128 142 165 129 5.2%
Dow Jones
US Electrical
Components
& Equipment Index 100 102 110 127 151 114 2.6%
$100 invested on 9/30/03 in stock or index-including reinvestment of
dividends. Fiscal year ending September 30.
Copyright ©2008 Standard & Poor’s, a division of The McGraw-Hill
Companies Inc. All rights reserved. (www.researchdatagroup.com/S&P)
Copyright ©2008 Dow Jones & Company. All rights reserved.

This Annual Report contains various forward-looking
statements and includes assumptions concerning
Emerson’s operations, future results, and prospects.
These forward-looking statements are based on current
expectations, are subject to risk and uncertainties, and
Emerson undertakes no obligation to update any such
statements to reect later developments. In connection
with the “safe harbor” provisions of the Private Securi-
ties Litigation Reform Act of 1995, Emerson provides the
following cautionary statement identifying important
economic, political, and technological factors, among
others, changes in which could cause the actual results
or events to differ materially from those set forth in or
implied by the forward-looking statements and related
assumptions.
Such factors include the following: (i) current and future
business environment, including interest rates, currency
exchange rates and capital and consumer spending;
(ii) potential volatility of the end markets served;
(iii) competitive factors and competitor responses to
Emerson initiatives; (iv) development and market intro-
duction of anticipated new products; (v) availability of
raw materials and purchased components; (vi) govern-
ment laws and regulations, including taxes; (vii) outcome
of pending and future litigation, including environmental
compliance; (viii) stability of governments and business
conditions in emerging economies; (ix) penetration of
emerging economies; (x) favorable environment for
acquisitions, domestic and foreign, including regula-
tory requirements and market values of candidates; (xi)
integration of acquisitions; (xii) favorable access to capital
markets; and (xiii) execution of cost-reduction efforts.
; Emerson; Emerson Network Power; Emerson
Industrial Automation; Emerson Process Management; Emerson
Climate Technologies; Emerson Appliance Solutions; Emerson Tools
& Storage; Emerson Storage Solutions; PlantWeb; Copeland Scroll;
Copeland Digital Scroll; Liebert; Liebert Xtreme Density; Aperture;
Aperture VISTA; Consider It Solved; and their related designs and logo-
types are trademarks, service marks, and/or trade names of Emerson,
its subsidiaries, afliates, investments, or joint ventures.
DEC, Heinz, and Premier Farnell, and their related designs and logo-
types used within this Annual Report, are the trademarks, service
marks, and/or trade names of Dongfang Electric Corporation,
H.J. Heinz Company and Premier Farnell plc, respectively, and are
not owned by or afliated with Emerson.
© Emerson Electric Co. 2008, All Rights Reserved
2003 2008
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