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by Stephanie Neil, MA Editorial Staff
Posted on Tuesday, July 22, 2008 4:39:34 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Top-line growth holds the company steady amid macro-economic trends that are beginning to affect operational performance. |
| Keywords: | Rockwell earnings, Rockwell revenue |
On the heels of a profit warning issued last month, Rockwell Automation today reported a double-digit increase in revenue for its 2008 fiscal third quarter, while income from continuing operations fell year over year.
For the quarter, ended June 30, 2008, Rockwell reported revenue of $1.47 billion, a 15% improvement on $1.28 billion in sales in the third quarter of 2007. Income from continuing operations, however, came in at $152.6 million, or $1.03 per share, a decline from the prior year’s $167.5 million, or $1.07 per share, although an improvement on the $0.93 to $1.00 that the automation provider predicted in June’s profit warning.
The company’s top-line growth benefited from foreign currency translation, which contributed 5 percentage points, and acquisitions, which contributed 4 percentage points. Rockwell has also been able to leverage strong growth from infrastructure-based projects in Asia Pacific and Latin America, which delivered third-quarter organic growth of 26% and 19%, respectively. In addition, the oil and gas vertical grew in excess of 30% in the period, the company said.
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