Rockwell Automation reports slight drop in 3Q profit

Special to The Freeman

July 30, 2014

MILWAUKEE — Rockwell Automation Inc. said its third-quarter profit fell 2 percent to $199.7 million, or $1.43 a share, from $203.7 million or $1.45 a share a year earlier.

Its earnings fell to $1.49 from $1.54, excluding non-recurring costs, the company said. The Milwaukee-based supplier of automation technology said its quarterly revenue increased 1.6 percent to $1.65 billion.

“Sales and earnings came in as expected this quarter. We experienced strong year-over-year growth in architecture and software, while sales in control products and solutions declined modestly, primarily due to very strong sales in our solutions and services businesses last year. I was pleased to see solid sequential sales growth in both segments and across most regions. Free cash flow continued to be strong,” said Keith D. Nosbusch, chairman and chief executive officer.

“Organic sales grew 5 percent for the first nine months of the fiscal year and total segment operating margin expanded by 70 basis points. These results reflect the ongoing execution of our growth and performance strategy,” he added.