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Correction: Earns-Rockwell Automation story

Associated Press Modified: November 6, 2012 at 2:00 pm •  Published: November 6, 2012
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Rockwell said its sales to existing customers rose 5 percent, while the effects of the stronger dollar trimmed revenue by 4 percentage points. Rockwell, like other companies that do significant business outside the U.S., can be hurt by a rising dollar because income earned in foreign currencies shrinks when it's translated back into a stronger U.S. dollar.

For the full year 2012, the company earned $737 million, or $5.13 per share, up from $697.8 million, or $4.80 per share, in fiscal 2011. Revenue rose to $6.26 billion from $6 billion.

Rockwell said it expects to post an adjusted 2013 profit of $5.35 to $5.75 per share, while analysts expect $5.44 per share. The company added that while it does expect sales to increase in fiscal 2013, much of that increase will be weighted to the second half of the year.

Rockwell shares rose $2.49, or 3 percent, to $78 in afternoon trading.