Rockwell caps record fiscal year

Milwaukee-based Rockwell Automation Inc. capped a record fiscal year with a strong fourth quarter.
Full year results set record highs for sales, earnings per share from continuing operations and return on invested capital. Rockwell’s sales were $6.0 billion, up 24 percent from $4.9 billion in fiscal 2010.
In the fiscal fourth quarter, Rockwell reported net income of $201.8 million, or $1.39 per share, up from $131.3 million, or 91 cents per share.
Currency translation contributed 4 percentage points to the increase, while acquisitions contributed 1 percentage point.
Keith Nosbusch, chairman and chief executive officer of Rockwell, said, "The fourth quarter capped a year of outstanding sales and earnings performance. Sales growth was strong in all regions. Control Products & Solutions had a great quarter with 18 percent organic growth. Total segment operating margin expanded to 18 percent and it was another record quarter for sales and earnings per share. For the full year, sales grew 24 percent and earnings per share grew 57 percent. Key growth accelerators hit on all cylinders. Logix sales increased 29 percent, reflecting the success of our plant-wide optimization strategy and continued growth both in process applications and with OEM customers. Emerging markets grew over 30 percent and now represent 22 percent of total sales. We invested in our best growth opportunities while improving operating margin by over 2 points. Continued strong cash flow and a healthy balance sheet enabled us to fund organic growth, make two acquisitions, significantly increase our dividend for a second straight year, repurchase 4 million shares and contribute $450 million to our U.S. pension trust in September and October.”
Looking forward, Nosbusch said, “These outstanding results give me confidence in both our strategy and our execution. I want to thank our employees for their dedication and our customers and partners for their support throughout the year."

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