Rockwell Reaffirms FY2012 Guidance After Q1 Results

Rockwell Automation has reported fiscal 2012 first quarter sales of US$1,473.9 million, up eight percent from $1,365.8 million in the first quarter of fiscal 2011. Net income was $183.3 million ($1.27 per share) compared to $150.1 million ($1.04 per share) last year, an increase of 22 percent on a per-share basis.

Commenting on the results, Keith Nosbusch, chairman and chief executive officer, said, “We had great earnings growth on good sales growth in the quarter. Segment margins expanded and EPS growth of 22 percent was very strong. Regional sales growth rates varied, particularly in the solutions businesses. Process had a great quarter with 22 percent sales growth. In this macroeconomic environment, I am pleased with the solid start to the fiscal year.”

As for the outlook, Nosbusch added, “With one quarter behind us, and given our current assessment of global economic and market conditions, we are not changing our sales outlook for the year. Based on fiscal 2012 projected sales of $6.2 billion to $6.5 billion, we are reaffirming our fiscal 2012 earnings per share guidance of $5.05 to $5.45. Although we may see uneven results throughout the year, sales and earnings in our guidance range would represent another record year for the company.”

Architecture & Software fiscal 2012 first quarter sales were $650.5 million, an increase of six percent from $613.9 million last year. Segment operating earnings were $186.3 million in the first quarter of fiscal 2012, compared to $153.1 million in 2011.

Control Products & Solutions fiscal 2012 first quarter sales were $823.4 million, an increase of 10 percent from $751.9 million last year. Segment operating earnings increased to $97.5 million in the first quarter of fiscal 2012, compared to $68.9 million in 2011.