Rockwell Automation today reported that its industrial control and automation technology drove it to a double-digit revenue increase and solid operating earnings for the fiscal year, despite continued economic uncertainty.
Rockwell closed out its 2010 fiscal year with net income of $464 million on sales of $4.85 billion. Net income was more than double the earnings Rockwell reported in fiscal 2009. The revenue tally was up 12% over last year’s $4.33 billion.
Rockwell experienced similar spikes in the fourth quarter. Revenue soared 26% to $1.35 billion, from $1.07 billion in the same period last year, and net income rose to $131.3 million from $28.9 million reported in the year-ago quarter.
“The highlight of the year has to be the recovery that we saw,” said Rockwell chairman and CEO Keith Nosbusch in an interview with Managing Automation. “The year ended much stronger than we anticipated. We are pleased we had positive year-over-year growth, and the magnitude is very exciting and positive.”