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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; [email protected]

Stock News for Rockwell Automation (ROK)
DateTimeHeadline
01/12/201711:58:00Rockwell Automation to Report Fiscal 2017 First Quarter Results
01/11/201708:46:53Current Report Filing (8-k)
01/11/201708:30:00Rockwell Automation Names Patrick Goris Chief Financial Officer;...
01/04/201714:52:29Statement of Changes in Beneficial Ownership (4)
01/04/201714:43:21Statement of Changes in Beneficial Ownership (4)
01/04/201710:15:07Initial Statement of Beneficial Ownership (3)
12/22/201610:03:59Additional Proxy Soliciting Materials (definitive) (defa14a)
12/22/201610:03:32Proxy Statement (definitive) (def 14a)
12/16/201602:28:00ロックウェル・オートメーションがレベッカ・ハウスを法務顧問兼総務部長に任命
12/14/201601:40:00Rockwell Automation ernennt Rebecca House zur Leiterin der Rechtsabteilung...
12/13/201621:47:00Rockwell Automation nomme Rebecca House chef du contentieux et...
12/13/201615:58:00Rockwell Automation Names Rebecca House General Counsel & Secretary
12/09/201614:22:22Statement of Changes in Beneficial Ownership (4)
12/08/201612:06:28Statement of Changes in Beneficial Ownership (4)
12/08/201612:06:28Statement of Changes in Beneficial Ownership (4)
12/08/201612:06:02Statement of Changes in Beneficial Ownership (4)
12/08/201611:43:55Statement of Changes in Beneficial Ownership (4)
12/08/201611:43:29Statement of Changes in Beneficial Ownership (4)
12/08/201611:36:38Statement of Changes in Beneficial Ownership (4)
12/08/201611:36:38Statement of Changes in Beneficial Ownership (4)

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