Milwaukee-based Rockwell Automation Inc. today reported fiscal fourth quarter net income of $195.2 million, or $1.38 per share, down from $201.8 million, or $1.39 per share, in the same period a year ago.
The company’s quarterly sales were virtually flat at $1.66 billion.
Keith Nosbusch, chairman and chief executive officer of Briggs, said, “I was pleased with 5 percent organic sales growth in the quarter, especially given the tough comparison to last year’s very strong fourth quarter. While growth rates continued to moderate due to a difficult economic environment, once again every region delivered organic growth. We initiated restructuring actions that reduced margins in the quarter. Those actions provide us with some headroom to rebalance investments in 2013. For the full year, we achieved record sales and earnings per share.”
Commenting on the outlook, Nosbusch said, “The sluggish global economy and a weaker solutions backlog are headwinds as we enter fiscal 2013. While we do expect sales to increase next year, the growth will likely be more weighted to the second half. We plan to invest in our best growth opportunities in 2013, but we will closely monitor business conditions and adjust as appropriate. While we can’t control the economy, I believe we are well-positioned to outgrow the market with our innovative technology, domain expertise and thought leadership.”
