Rockwell Automation 2011 Revenue Hits Record US$6 Billion

Rockwell Automation full year results for 2011 (ending Sept 30) set record highs for sales, earnings per share and return on invested capital. Sales were US$6,000.4 million, up 24 percent compared to $4,857 million in fiscal 2010. Income from continuing operations was $697.1 million or $4.79 per share, compared to $440.4 million or $3.05 per share in fiscal 2010, an increase of 57 percent on a per-share basis. Return on invested capital was 31.6 percent.

Architecture & Software fiscal 2011 fourth quarter sales were $683.3 million, an increase of 19 percent from $575.9 million last year, while Control Products & Solutions fiscal 2011 fourth quarter sales were $971 million, an increase of 24 percent from $781 million last year.

Commenting on the results, Keith Nosbusch, chairman and chief executive officer, said, "The fourth quarter capped a year of outstanding sales and earnings performance. Sales growth was strong in all regions. Control Products & Solutions had a great quarter with 18 percent organic growth. Total segment operating margin expanded to 18 percent and it was another record quarter for sales and earnings per share.

"For the full year, sales grew 24 percent and earnings per share grew 57 percent. Key growth accelerators hit on all cylinders. Logix sales increased 29 percent, reflecting the success of our plant-wide optimization strategy and continued growth both in process applications and with OEM customers.

"Emerging markets grew over 30 percent and now represent 22 percent of total sales. We invested in our best growth opportunities while improving operating margin by over two points. Continued strong cash flow and a healthy balance sheet enabled us to fund organic growth, make two acquisitions, and significantly increase our dividend for a second straight year.

"These outstanding results give me confidence in both our strategy and our execution. I want to thank our employees for their dedication and our customers and partners for their support throughout the year."

Commenting on the outlook for FY2012, Nosbusch added, "Despite an uncertain global economic picture and moderating growth rates, we are cautiously optimistic that market growth will continue in 2012. We enter the year with a sound strategy, a track record of success in our growth initiatives and a robust new product pipeline.

"For fiscal 2012 we are providing a sales outlook of $6.2 to $6.5 billion, which represents sales growth of five to nine percent excluding currency. Based on this sales outlook, we are initiating fiscal 2012 earnings per share guidance of $5.05 to $5.45."

Nosbusch continued, "In the coming year we will remain flexible and adjust to the underlying economic environment as appropriate. Our strategic priorities are unchanged and we will continue to invest to pursue our best growth opportunities."