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Rockwell shares fall on profit decrease

  • Rockwell Automation (ROK -6.7%) shares fell lower after the company reported a FQ3 2% decrease in net income, falling to $199.7M, or $1.43 a share, from $203.7M, or $1.45 a share Y/Y.
  • Profit was pulled down by a higher effective tax rate, while revenue growth at its architecture and software segment offset declines at its control-products unit.
  • Revenue increased 1.6% to $1.65B.
  • Sales rose 2% Y/Y to $1.65B up from $1.62B a year earlier. Organic sales also grew 2%.
  • The company narrowed the fiscal 2014 guidance for organic sales growth to 4-6% and for adjusted EPS to $6.10-$6.25. The midpoints of both ranges remain the same.
  • FQ3 earnings
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