ITT Corporation Q1 Profit Increases, beats estimates

(RTTNews) - ITT Corporation (ITT) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $100.0 million, or $1.20 per share. This compares with $74.8 million, or $0.88 per share, in last year's first quarter.

Excluding items, ITT Corporation reported adjusted earnings of $97.3 million or $1.17 per share for the period.

Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $797.9 million from $726.2 million last year.

ITT Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $100.0 Mln. vs. $74.8 Mln. last year. -EPS (Q1): $1.20 vs. $0.88 last year. -Analyst Estimate: $1.11 -Revenue (Q1): $797.9 Mln vs. $726.2 Mln last year.

-Guidance: Full year EPS guidance: $4.65 to $4.95