Rockwell on pace for record year

Milwaukee-based Rockwell Automation Inc. today reported fiscal second quarter net income of $167.8 million, or $1.16 per share, up slightly from $166.4 million, or $1.14 per share, in the same period a year ago.

The company’s quarterly sales grew to $1.6 billion from $1.5 billion a year earlier.
Keith Nosbusch, Rockwell’s chairman and chief executive officer, said, “Sales growth was solid in the second quarter and segment operating earnings grew 10 percent. We had strong cash flow in the quarter and Process continued to perform well with 23 percent sales growth. I am pleased with our performance in the first half of the year. On healthy 7 percent sales growth, segment operating margin expanded 1.7 points and EPS grew 12 percent.”
Looking forward, Nosbusch said, “With two quarters behind us, and given our current assessment of global economic and market conditions, we are maintaining the mid-point of our sales outlook for the year but narrowing the range by $100 million. Based on fiscal 2012 projected sales of $6.25 billion to $6.45 billion, we are maintaining the mid-point of fiscal 2012 earnings per share guidance and narrowing the range to $5.10 to $5.40. Sales and earnings in our guidance range would represent another record year for the company.”

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