Rockwell earnings down on strong dollar

Milwaukee-based Rockwell Automation Inc. today reported fiscal second quarter net income of $206 million, or $1.51 per share, up from $180.3 million, or 1.28 per share, in the second quarter of 2014.

Operating income at the industrial automation and information company was $334.2 million, up from $302.1 million in the same period a year ago.

Revenue totaled $1.6 billion during the quarter, flat from the second quarter of 2014.

The company attributed its earnings decrease to unfavorable foreign currency translation.

“Earnings growth in the quarter was robust in spite of lower sales, as solid organic sales growth was more than offset by a large currency headwind,” said Keith Nosbusch, chairman and chief executive officer. “Margin expansion was very healthy and free cash flow was also strong in the quarter. I am extremely pleased with 15 percent first half growth in adjusted EPS, an excellent result in this market environment. We have demonstrated that even in a lower growth environment, we can still grow earnings and deliver great value to shareowners.”

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