MILWAUKEE (AP) — In a story Nov. 5 about Rockwell Automation Inc.'s fiscal fourth-quarter results, The Associated Press erroneously reported that Rockwell's fourth-quarter revenue fell slightly short of average analyst predictions. Revenue beat Wall Street predictions.
A corrected version of the story is below:
Rockwell Automation 4Q net income down 3 percent
Rockwell Automation posts 3 percent drop in fiscal 4th-qtr net income on lackluster demand
MILWAUKEE (AP) — Rockwell Automation Inc. said Monday that its fiscal fourth-quarter net income fell 3 percent, as the sluggish economy hurt demand for its products and services.
For the quarter ended Sept. 30, the Milwaukee-based industrial equipment and software maker earned $195.2 million, or $1.38 per share, down from $201.8 million, or $1.39 per share, in the same quarter last year.
Revenue rose less than 1 percent to $1.66 billion from $1.65 billion. Architecture and software sales fell 2 percent to $671.3 million, but sales of control products and services rose 2 percent to $992.7 million. The recent quarter's results also included $13 million in pretax restructuring charges.
The profit and revenue figures beat Wall Street predictions. Analysts, on average, expected net income of $1.32 per share on $1.62 billion in revenue.