Rockwell third quarter profit up 6.2 percent

Milwaukee-based Rockwell Automation Inc. reported fiscal third quarter profit of $190.7 million, up 6 percent compared to $179.5 million in the previous fiscal third quarter.

Diluted earnings per share for the quarter were $1.33, up 9 percent from $1.22 in the previous fiscal third quarter.
The company’s third quarter sales were $1.56 billion, up 3 percent from $1.516 billion in the previous fiscal third quarter.
“It was a good quarter in the midst of a challenging macroeconomic environment,” said Keith D. Nosbusch, chairman and chief executive officer.
However, the company said it has revised its EPS guidance down for the full year, to $5 to $5.20, because of an uncertain global economy.
“Most economic indicators have weakened from a quarter ago and the global political environment remains unsettled,” Nosbusch said. “Based on this increased uncertainty and our sales performance in the third quarter, we now expect slower growth in the fourth quarter, particularly in Latin America and emerging Asia. Taking these factors into consideration, plus an increasing headwind from currency, we are reducing our sales outlook for the fiscal year to approximately $6.2 billion.”

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