Rockwell Automation, Inc. today reported higher sales and net income during the fiscal 2012 third quarter.
The company reported that income from continuing operations was $190.7 million, or $1.33 per share, compared to $178.8 million, or $1.22 per share, last year, an increase of 9%.
Total segment operating earnings were $284.0 million in the third quarter of fiscal 2012, up from $263.3 million in the same period of 2011.
Rockwell also reported sales of $1,560.4 million, up 3% from $1,516.2 million in the third quarter of fiscal 2011. Organic sales increased 7%, but currency translation reduced sales by four percentage points.
Rockwell has reduced its sales outlook for the fiscal year to approximately $6.2 billion and has revised its fiscal 2012 earnings per share guidance range to $5-$5.20. Sales and earnings in this range still would represent a record year.
Commenting on the company’s outlook, Keith D. Nosbusch, chairman and chief executive officer, cited a challenging macroeconomic environment. “Most economic indicators have weakened from a quarter ago and the global political environment remains unsettled,” Nosbusch stated. “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.”
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