Standex International Corp Q3 Profit Decreases, but beats estimates

(RTTNews) - Standex International Corp (SXI) announced a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $15.80 million, or $1.33 per share. This compares with $80.51 million, or $6.77 per share, in last year's third quarter.

Excluding items, Standex International Corp reported adjusted earnings of $20.69 million or $1.75 per share for the period.

Analysts on average had expected the company to earn $1.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.8% to $177.3 million from $184.3 million last year.

Standex International Corp earnings at a glance (GAAP) :

-Earnings (Q3): $15.80 Mln. vs. $80.51 Mln. last year. -EPS (Q3): $1.33 vs. $6.77 last year. -Revenue (Q3): $177.3 Mln vs. $184.3 Mln last year.