Rockwell Automation Inc. Reports Consolidated Earnings Results for the First Quarter Ended December 31, 2011; Reaffirms Earnings Guidance For the Fiscal 2012
January 25, 2012 at 12:00 pm
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Rockwell Automation Inc. reported consolidated earnings results for the first quarter ended December 31, 2011. For the quarter, the company reported sales of $1,473.9 million, up 8% from $1,365.8 million in the first quarter of fiscal 2011. Net income was $183.3 million or $1.27 per diluted share compared to $150.1 million or $1.04 per diluted share last year, an increase of 22% on a per-share basis. Total segment operating earnings were $283.8 million in the first quarter of fiscal 2012, up from $222.0 million in the same period of 2011. Income before income taxes was $242.9 million compared to $186.7 million a year ago. Cash used by operating activities was $189.0 million compared to cash provided by operating activities of $12.6 million a year ago. Capital expenditures were $31.6 million compared to $20.3 million a year ago.
The company reaffirmed earnings guidance for the fiscal 2012. For the period, the company expects sales of $6.2 billion to $6.5 billion, earnings per share of $5.05 to $5.45. The company expects the effective tax rate to be approximately 24%.
Rockwell Automation, Inc. is one of the world's largest companies that specialize in the manufacturing and marketing of automation and industrial infrastructure control systems. The products are primarily intended for the food processing, automotive, mining, oil, and gas industries. Net sales break down by family of products and services as follows:
- automation and control devices (45.2%): drive systems, variable frequency drives, motor controls, servo drives, servomotors, actuators, microcontrollers, safety, detection, protection systems, etc.;
- automation solutions and systems (31.9%): automation software and hardware platforms, design, visualization, simulation and execution software, human-machine interface devices, industrial computers, computer networks, etc.;
- professional services and value-added solutions (22.9%): consulting, training and maintenance services, on-site and remote assistance, cloud-based connected services, digital automation solutions for the oil, gas and petrochemical industries, etc.
Net sales are distributed geographically as follows: North America (57.7%), Europe/Middle East/Africa (20.7%), Asia/Pacific (15%) and Latin America (6.6%).
Rockwell Automation Inc. Reports Consolidated Earnings Results for the First Quarter Ended December 31, 2011; Reaffirms Earnings Guidance For the Fiscal 2012