Franklin Electric Q2 Profit Falls

(RTTNews) - Franklin Electric Co., Inc. (FELE) reported net income for the second quarter of $16.2 million or $0.33 per share, compared to $27.1 million or $0.55 per share for the year-ago quarter.

Excluding items, second quarter adjusted earnings were $0.35 per share, compared to $0.60 per share in the prior year quarter.

Second quarter sales fell 13% to $247.43 million from $284.47 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.39 per share on revenue of $256.16 million for the second quarter. Analysts' estimates typically exclude special items.