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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; joan.solsman@dowjones.com

Stock News for Rockwell Automation (ROK)
DateTimeHeadline
03/27/201514:44:13Current Report Filing (8-k)
03/21/201516:54:18A Closer Look At Rockwell Automation's Outstanding Profitability
03/09/201507:15:00Rockwell Automation Named One of World’s Most Ethical Companies f...
03/09/201507:15:00Rockwell Automation zum siebenten Mal als eines der ethischsten...
03/09/201507:15:00La société Rockwell Automation est nommée l’une des sociétés les pl...
03/09/201507:15:00ロックウェル・オートメーション、「世界で最も倫理的な企業」として7回目の選出
03/01/201505:02:23Some Companies Are More Wonderful Than Others
02/20/201511:07:33Statement of Changes in Beneficial Ownership (4)
02/17/201516:56:55Statement of Changes in Beneficial Ownership (4)
02/17/201513:59:17Current Report Filing (8-k)
02/17/201509:56:58Statement of Changes in Beneficial Ownership (4)
02/13/201516:06:58Statement of Ownership (sc 13g)
02/13/201515:29:00Statement of Changes in Beneficial Ownership (4)
02/13/201515:29:00Statement of Changes in Beneficial Ownership (4)
02/12/201513:36:10Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
02/12/201511:07:00Rockwell Automation to Present at Barclays Conference
02/12/201511:03:00Rockwell Automation Prices $600 Million of Notes Offering
02/11/201517:12:32Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
02/11/201510:07:00Rockwell Automation Announces Notes Offering
02/11/201509:04:40Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)

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