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by Stephanie Neil, MA Editorial Staff Posted on Wednesday, June 25, 2008 4:45:15 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | A recent falloff in U.S. and European sales causes the company to rein in its earnings expectations for the year.
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| Keywords: | Rockwell outlook, automation outlook |
Automation technology provider Rockwell Automation issued a profit warning today, saying weak market conditions in the United States and Europe will cause the company to fall short of its previously projected earnings for the year.
The company did not state by how much it expects to miss its previous full-year guidance of $4.25 to $4.45 per share. Rockwell did, however, report that it anticipates third-quarter diluted earnings per share (EPS) in the range of $0.93 to $1.00. In last year’s third quarter, the automation provider registered diluted EPS from continuing operations of $1.07.
For the third fiscal quarter, which runs through the end of this month, Rockwell said it anticipates revenue, excluding currency translation, to be about 7% to 9% higher than that of third quarter 2007; foreign currency translation is expected to add 5%, the company said in a statement.
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