Parker Hannifin Corp
, a maker of motion control technology for manufacturing and aerospace, reported a smaller-than-expected drop in quarterly profit on Tuesday, and said its restructuring supported profits during what is typically its weakest quarter.

Parker also said sales and orders increased sequentially and raised its full-year earnings forecast, citing signs of an emerging recovery.

Net earnings fell 33 percent to $104.6 million, or 64 cents per share, in the second quarter that ended December 31, from $155.4 million, or 96 cents per share, a year earlier.

Analysts on average expected a profit of 35 cents per share, according to Thomson Reuters I/B/E/S.

Revenue fell 12 percent to $2.35 billion, above Wall Street forecasts of $2.25 billion.

Parker may be one of the first industrial companies to recover along with the U.S. and global economies because it serves early-cycle markets, such as construction equipment, truck and auto industries.

It said it expects fiscal 2010 earnings from continuing operations in a range of $2.40 to $2.80 per share, which is above Wall Street's estimate of $2.02 per share.

(Reporting by Nick Zieminski; Editing by Lisa Von Ahn and Maureen Bavdek)