Rexnord Corp. on Wednesday reported fiscal fourth-quarter net income of $47.2 million, after reporting a loss in the same period a year earlier.
The Milwaukee-based company said it had net income of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to 51 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The motion control and water management company posted revenue of $537.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $541.8 million.
For the year, the company reported profit of $34.3 million, or 28 cents per share. Revenue was reported as $2.05 billion.
