Rexnord Q4 Adj. Profit Tops View; Issues Q1 Outlook - Quick Facts

(RTTNews) - Rexnord Corp. (RXN) reported fourth-quarter net income attributable to company of $40.0 million or $0.39 per share, compared to $23.9 million or $0.24 per share in the year-ago period.

Adjusted net income for the quarter was $51.9 million or $0.50 per share, compared to $32.1 million or $0.32 per share in the prior-year quarter. On average, seven analysts polled by Thomson Reuters expected the company to report earnings per share of $0.47 for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased to $569.7 million from $540.3 million in the same period last year, while seven analysts had a consensus revenue estimate of $582.77 million for the quarter.

Looking ahead to the first quarter, the company expects adjusted earnings to be in the range of $0.24 to $0.26 per share and sales in the range of $500 million to $510 million. Analysts currently expect first quarter earnings of $0.34 per share on revenues of $555.55 million.

For fiscal 2015, Rexnord currently expects adjusted earnings per share in the range of $1.60 to $1.70 per share. Street expects the company to earn $1.69 per share