Rockwell first quarter profit up 22 percent

Milwaukee-based Rockwell Automation Inc. reported first quarter net income of $183.3 million, $1.27 per share, up 22 percent from fiscal 2011 first quarter net income of $150.1 million, or $1.04 per share.
The company’s first quarter net sales were $1,473,900,000, up 8 percent from $1,365,800,000 in the first quarter of fiscal 2011.
“We had great earnings growth on good sales growth in the quarter,” said Keith D. Nosbusch, chairman and chief executive officer. “In this macroeconomic environment, I am pleased with the solid start to the fiscal year. With one quarter behind us, and given our current assessment of global economic and market conditions, we are not changing our sales outlook for the year. Based on fiscal 2012 projected sales of $6.2 billion to $6.5 billion, we are reaffirming our fiscal 2012 earnings per share guidance of $5.05 to $5.45. Although we may see uneven results throughout the year, sales and earnings in our guidance range would represent another record year for the company.”