Rockwell Automation today reported a 25% increase in sales in its fiscal third quarter, giving company executives enough confidence to raise their full-year guidance for the manufacturing automation provider.
Buoyed by growth in emerging markets in Asia Pacific and Latin America, the company reported revenue of $1.26 billion for the quarter, ended June 30, 2010. Net income soared to $119.4 million from $32.8 million in the prior-year quarter.
Organic sales in Rockwell’s two business units — Architecture & Software and Control Products & Solutions — grew 39% to $553.9 million and 17% to $714.2 million, respectively.
While noting an uptick in Rockwell’s legacy Logix business, due primarily to a large installed base that requires upgrades and maintenance, Chairman and CEO Keith Nosbusch told analysts on a conference call today that the bigger news was growth in the company’s process control segment, where the company has diversified away from its discrete manufacturing roots.