Rockwell Automation of Milwaukee reported that fiscal 2012 first quarter net income increased 22% on a per-share basis, with the company reporting $183.3 million in 2012 ($1.27/share) compared to $150.1 million ($1.04/share) during the same period in 2011.
Rockwell, a Milwaukee-based industrial automation solutions company, also reported sales of $1,473.9 million, an 8% increase from the same quarter a year ago, when sales were reported at $1,365.8 million. The company said acquisitions contributed one percentage point to the increase, and currency translation reduced sales by the same amount.
Total segment operating earnings were $283.8 million in the first quarter of fiscal 2012, up from $222.0 million in the same period of 2011, while total segment operating margin increased to 19.3% from 16.3% a year ago.
Keith D. Nosbusch, chairman and chief executive officer for Rockwell, attributed the quarterly earnings growth to the sales growth. He noted that regional sales growth rates varied, particularly in the solutions segment of the businesses, but the process segment was strong with 22% percent sales growth.
“In this macroeconomic environment, I am pleased with the solid start to the fiscal year,” he said in a press release.
Based on the comany’s current assessment of global economic and market conditions, Nosbusch said it would not change its sales outlook for the year. Rockwell projected sales of $6.2 billion to $6.5 billion for fiscal 2012.
Rockwell also is affirming its 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,” Nosbusch said.
Other date from the quarter indicates that architecture and software first quarter sales were $650.5 million, an increase of 6% from $613.9 million last year. Operating earnings for this segment were $186.3 million, compared to $153.1 million in 2011; the segment’s operating margin was 28.6% in the first quarter of fiscal 2012, compared to 24.9% a year ago.
First quarter sales for control products and solutions were $823.4 million, an increase of 10% from $751.9 million last year. Meanwhile, fiscal 2012 first quarter sales were down 15% sequentially from the fourth quarter of fiscal 2011. The segment’s operating earnings increased to $97.5 million in the first quarter of fiscal 2012, compared to $68.9 million in 2011, and the segment’s operating margin was 11.8% in the first quarter of fiscal 2012, compared to 9.2% last year.
