Rockwell Automation 3Q Net Jumps 50%; Full-Year View Raised

Date : 07/28/2011 @ 8:21AM
Source : Dow Jones News
Stock : Rockwell Automation, Inc. (ROK)
Quote : 163.1  -0.86 (-0.52%) @ 4:02PM

Rockwell Automation 3Q Net Jumps 50%; Full-Year View Raised

Rockwell Automation (NYSE:ROK)
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Rockwell Automation Inc.'s (ROK) fiscal third-quarter earnings rose 50% as strong architectural and design revenue and steady margins delivered better-than-expected results.

The company raised its full-year earnings view to $4.55 to $4.65 with revenue at about $5.9 billion, up from its April guidance of $4.40 to $4.60 a share with revenue of $5.7 billion to $5.8 billion.

The maker of factory-automation equipment and software has now posted six straight quarters of double-digit sales growth on strong demand from emerging markets, especially in China and India.

The company last month boosted its quarterly dividend 21%, citing confidence in its performance through varying business cycles.

For the quarter ended June 30, Rockwell reported a profit of $179.5 million, or $1.23 a share, up from $119.4 million, or 83 cents a share, a year earlier. The latest quarter included about a penny per-share of discontinued operations. Revenue rose 20% to $1.52 billion.

Analysts polled by Thomson Reuters had expected a $1.19 per-share profit with revenue of $1.48 billion.

Gross margin was unchanged at 40%.

Revenue jumped 21% in the company's architecture and software business, while its larger control-products unit posted 18% higher sales.

Shares closed Wednesday at $77.07 and were inactive premarket. The stock has climbed 41% over the past year.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

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