Emerson 2009 Annual Report Download - page 55



    2008 2009
Operating Profit:
Net Sales $24,807 
Cost of Sales 15,668 
SG&A Expenses 5,057 
Operating Profit (Non-GAAP) 4,082 
Operating Profit Margin %
(Non-GAAP) 16.5% 
Other Deductions, Net 303 
Interest Expense, Net 188 
Pretax Earnings $ 3,591 
Pretax Earnings Margin % 14.5% 
Net Sales:
Underlying Sales (Non-GAAP) 
Foreign Currency Translation 
Acquisitions  
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 
  2004 2005 2006 2007 2008 2009 CAGR
        
S&P 500 Index 100 112 124 145 113 105 1.0%
Dow Jones
US Electrical
Components
& Equipment Index 100 109 125 149 112 115 2.9%
$100 invested on 9/30/04 in stock or index-including reinvestment of
dividends. Fiscal year ending September 30.
Copyright ©2009 Standard & Poor’s, a division of The McGraw-Hill
Companies Inc. All rights reserved. (www.researchdatagroup.com/S&P)
Copyright ©2009 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
introduction of anticipated new products; (v) availability
of raw materials and purchased components; (vi) U.S.
and foreign government laws and regulations, including
taxes and restrictions; (vii) outcome of pending and
future litigation, including environmental compliance;
(viii) stability of governments and business conditions in
foreign countries, including emerging economies, which
could result in nationalization of facilities or disruption
of operations; (ix) penetration of emerging economies;
(x) favorable environment for acquisitions, domestic and
foreign, including regulatory requirements and market
values of candidates; (xi) integration of acquisitions;
(xii) favorable access to capital markets; and (xiii) execu-
tion of cost-reduction efforts.
; Emerson; Emerson Network Power; Emerson
Industrial Automation; Emerson Process Management; Emerson
Climate Technologies; Emerson Appliance and Tools; Copeland
Scroll; Copeland Digital Scroll; Dixell; Vilter; Roxar; Roxar ASA; DeltaV;
Emerson Smart Wireless; EIM; SSB; Energy Logic; Trident Powercraft
Private, Limited; System Plast S.p.A.; Stratos; Stratos International,
Inc.; Damcos; Damcos Holding AS; 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.
Avocent; Avocent Corporation; Deutsche Bank AG; Qatargas; Range
Fuels; Motorola, Inc., and their related designs and logotypes used
within this Annual Report, are the trademarks, service marks, and/
or trade names of their respective owners, and are not owned by or
afliated with Emerson.
© Emerson Electric Co. 2009, All Rights Reserved
2004 2009
_$250
_$200
_$150
_$100
_$50
_$0