Milwaukee-based Rockwell Automation Inc. today reported fiscal third quarter net income of $206.1 million, or $1.52 per share, up from $199.7 million, or $1.43 per share, in the third quarter of 2014.
Operating income was $626.3 million, up from $578.1 million in the same period a year ago.
Revenue totaled $1.6 billion in the quarter, flat from the third quarter of 2014.
The company attributed the revenue performance to low industrial growth and the strength of the U.S. dollar.
“I am pleased with our performance in the quarter,” said Keith Nosbusch, chairman and chief executive officer. “We delivered another quarter of solid earnings growth, significant margin expansion, and strong free cash flow despite continued headwinds from currency and a low growth environment. Through three quarters, Adjusted EPS was up 12 percent on lower reported sales. Our results demonstrate excellent execution in these market conditions.”
The company also lowered its guidance for the year.
“Given decelerating industrial production growth, we are lowering the midpoint of our full-year organic growth guidance by 1 point. We expect fiscal 2015 reported sales of approximately $6.4 billion, and are narrowing our fiscal 2015 Adjusted EPS guidance range to $6.55 to $6.70.
“We remain focused on innovation, and I am confident in our ability to deliver attractive shareowner returns while we continue to invest in profitable growth opportunities.”
