Industrial equipment and software maker Rockwell Automation Inc. said its fourth-quarter net income rose 10 percent, beating analyst expectations, as margins rose in both of its main businesses.
Revenue in its architecture and software business rose 6 percent to $714.3 million. Revenue in its control products and solutions unit rose 1 percent to $1 billion.
Net income rose to $215.3 million, or $1.53 per share, from $195.2 million, or $1.38 per share, a year earlier. It said its adjusted profit would have been $1.62 per share. Revenue rose 3 percent to $1.72 billion, from $1.66 billion a year earlier. Analysts surveyed by FactSet had been expecting a profit of $1.52 per share on revenue of $1.7 billion.
It said it expects fiscal 2014 adjusted earnings of $5.95 to $6.35 per share, based in part on predictions for improved economic conditions. Analysts had been expecting $6.15 per share.
STOCK: Up $3.14, or 3 percent, to $112.17 in late morning trading after rising as high as $113.95, which FactSet said was an all-time high.