Baldor Electric Company has joined Fortune magazine’s elite “Fortune 1000”.  The list is a compilation of the largest U.S. industrial corporations ranked by sales volume.  Baldor’s 2007 sales of $1.8 billion placed Baldor in the 935^th position.

A novel type of bushing has helped Garmendale Engineering to reduce costs on a mineshaft-style railway ride for a new European theme park. The Dodge® Grip Tight® Bushing system from Baldor allows the drive wheels to be attached directly onto the shafts without the cost of machining keyways, providing a completely concentric grip.

The bushing's 360-degree fit and easy disassembly mechanism will also simplify routine maintenance of the ride, allowing trouble-free removal in seconds, as it eliminates the damage and corrosion that can often be caused by vibration-prone keyway style couplings with set screws.

John McFarland, Chairman and CEO, commented on the Company’s results, “We are pleased to report first quarter sales of $470.5 million, earnings of $25.6 million, and earnings per share of $0.56. Operating margin for the quarter improved to 14.2%. Diluted shares outstanding averaged 46.0 million in the quarter compared to 41.6 million last year. Our acquisition of Reliance Electric Company took place on January 31, 2007, so prior year figures include only two months of the acquired business.”

“Adjusting for the acquisition, sales increased 1% over last year despite having two fewer selling days this quarter. Incoming orders continue to be ahead of last year, and our backlog of orders grew by more than $25 million during the quarter. This growth in backlog is due in part to the strength of our business in large motors and an increase in generator orders.”

For the complete earnings realease click on the link above.