Regal Beloit: 4Q Earnings Snapshot
BELOIT, Wis. (AP) _ Regal Beloit Corp. (RBC) on Monday reported fourth-quarter net income of $55.6 million.
The Beloit, Wisconsin-based company said it had net income of $1.28 per share. Earnings, adjusted for non-recurring costs, were $1.41 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The maker of controls for electric motors posted revenue of $881.7 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $874.4 million.
For the year, the company reported profit of $231.2 million, or $5.26 per share. Revenue was reported as $3.65 billion.
Regal Beloit expects full-year earnings in the range of $6.15 to $6.55 per share.
Regal Beloit shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.41, a rise of 0.5 percent in the last 12 months.