艾默生Emerson Electric Co. (EMR) 2011年年度报告「AMEX」.pdf

1、2011 2 0 1 1 A N N U A L R E P O R T55 yEars OF INCREASED DIvIDENDSFor the 55th consecutive year,Emerson increased its annual dividend to shareholders.contEntsTo Our Shareholders 1Financial Highlights 11Financial Review 12Financial Statements 25Notes to Consolidated Financial Statements 30Report of

2、Independent Registered Public Accounting Firm 49Eleven-Year Summary 50Board of Directors&Management 52Stockholders Information 54From left:Frank J.Dellaquila Senior Vice President and Chief Financial Officer;Walter J.Galvin Vice Chairman;David N.Farr Chairman and Chief Executive Officer;Craig W.Ashm

3、ore Executive Vice President Planning and Development;Charles A.Peters Senior Executive Vice President;Edward L.Monser President and Chief Operating OfficerAnnual Report|01To our ShareholderS,2011 was a terrific year at Emerson,with performance records set in several key areas.Our recent strategic i

4、nvestments and repositioning efforts are delivering value to our customers and shareholders.We are better positioned around the world today than ever before.Going forward,the hardworking people of Emerson are sharply focused on quality,market leadership,exceeding expectations and achieving“never bee

5、n done before”innovation.That said,we know there is more work ahead of us in what is proving to be a very challenging and uncertain global marketplace one that is struggling with weak economic recovery and a lack of business confidence,especially in the U.S.and Europe.Throughout its history and espe

6、cially during the past decade,Emerson has proven its ability to perform regardless of economic cycle and deliver value to our long-term shareholders.Weve learned and changed in the midst of difficult downturns and capitalized on market opportunities at the peaks.Despite this current uncertain econom