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Rockwell Automation Profit Plunges 77% On Decline In Margins

DOW JONES NEWSWIRES Rockwell Automation Inc. (ROK) fiscal fourth-quarter earnings fell 77% on a decline in revenue and profit margins, but the bottom line widely beat analysts' predictions. Chairman and Chief Executive Keith D. Nosbusch said while year-over-year results for the maker of factory-automation equipment and software were weak, the company saw sequential revenue growth, indicating stabilization in demand and economic conditions. Strength in emerging economies in Latin America and the Asia Pacific region has failed to offset weakness in its two largest markets, Europe and North America. Rockwell's sales and profit declined sharply in the recession as manufacturers--seeing orders shrivel--reduced capacity. For the quarter ended Sept. 30, the company posted a profit of $28.9 million, or 20 cents a share, down from $125.6 million, or 87 cents a share, a year earlier. Excluding restructuring and other charges, profit fell to 37 cents from $1.08 a share. Revenue decreased 28% to $1.07 billion. A survey of analysts by Thomson Reuters anticipated a 27-cent profit per share on $1.06 billion in revenue. Gross margin dropped to 34% from 39.6%. The architecture and software division had a 74% drop in profit, while the control products and solutions division's earnings dropped two-thirds. Revenue fell 31% and 25% at the divisions, respectively. Rockwell projected earnings for the just-started fiscal year of $1.25 to $1.75 a share on revenue between $4.1 billion and $4.4 billion. Analysts projected $1.51 a share and $4.22 billion. Shares closed Friday at $43.32 and weren't active premarket. The stock, which has more than doubled from a six-year low in March, is up 34% in 2009. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Rockwell Automation (ROK)
08/14/201512:57:41Statement of Changes in Beneficial Ownership (4)
08/11/201516:43:24Statement of Changes in Beneficial Ownership (4)
08/05/201511:15:00Rockwell Automation Named a 2014 Nestlé North America Procurement...
08/05/201511:15:00Rockwell Automation von Nestlé North America zum Procurement...
08/05/201511:15:00La société Rockwell Automation a été nommée « 2014 Nestlé North A...
08/04/201512:55:51Quarterly Report (10-q)
07/29/201507:30:46Current Report Filing (8-k)
07/29/201507:00:00Rockwell Automation Reports Third Quarter 2015 Results
07/15/201511:26:00Rockwell Automation to Release Fiscal 2015 Third Quarter Results
07/08/201516:37:57Amended Statement of Changes in Beneficial Ownership (4/a)
07/02/201512:36:07Statement of Changes in Beneficial Ownership (4)
06/17/201514:11:00Securities Registration: Employee Benefit Plan (s-8)
06/15/201515:35:56Annual Report of Employee Stock Plans (11-k)
06/15/201515:28:12Annual Report of Employee Stock Plans (11-k)
06/03/201513:23:00Rockwell Automation Declares Quarterly Dividend on Common Stock
06/01/201511:49:56Specialized Disclosure Report (sd)
05/27/201518:22:21Statement of Changes in Beneficial Ownership (4)
05/27/201517:29:28Statement of Changes in Beneficial Ownership (4)
05/22/201513:36:38Statement of Changes in Beneficial Ownership (4)
05/22/201512:50:19Statement of Changes in Beneficial Ownership (4)

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