Rockwell reports solid quarter

Milwaukee-based Rockwell Automation Inc. reported fiscal third quarter net income of $199.7 million, or $1.43 per share, down from $203.7 million, or $1.45 per share, in the same period a year ago.

Rockwell reported quarterly sales of $1.6 billion, up 2 percent from a year ago. Organic sales also grew 2 percent.

Keith Nosbusch, chairman and chief executive officer, said, “Sales and earnings came in as expected this quarter. We experienced strong year-over-year growth in Architecture & Software, while sales in Control Products & Solutions declined modestly, primarily due to very strong sales in our solutions and services businesses last year. I was pleased to see solid sequential sales growth in both segments and across most regions. Free cash flow continued to be strong. Organic sales grew 5 percent for the first nine months of the fiscal year and total segment operating margin expanded by 70 basis points. These results reflect the ongoing execution of our growth and performance strategy.”

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