Rexnord Q3 Adj. Profit Tops View; Lifts 2014 EPS Outlook - Quick Facts

(RTTNews) - Rexnord Corp. (RXN) reported third-quarter net income attributable to company of $28.7 million or $0.28 per share, compared to $9.2 million or $0.09 per share in the year-ago period.

Adjusted net income for the quarter was $33.9 million or $0.34 per share, compared to $18.7 million or $0.19 per share in the prior-year quarter. On average, eight analysts polled by Thomson Reuters expected the company to report earnings per share of $0.32 for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 4 percent to $489.1 million from $471.7 million in the same period last year. Analysts had a consensus revenue estimate of $501.08 million for the quarter.

For fiscal 2014, Rexnord increased its adjusted earnings per share guidance to a range of $1.35 to $1.39 from the prior range of $1.32 to $1.38. Street expects the company to earn $1.35 per share.