Rockwell Automation, Inc. (ROK) has reported a 15.74 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $214.70 million, or $1.65 a share in the quarter, compared with $185.50 million, or $1.40 a share for the same period last year. On an adjusted basis, earnings per share were at $1.75 for the quarter compared with $1.49 in the same period last year.
Revenue during the quarter grew 4.47 percent to $1,490.30 million from $1,426.60 million in the previous year period. Gross margin for the quarter expanded 15 basis points over the previous year period to 43.10 percent. Total expenses were 81.73 percent of quarterly revenues, down from 82.28 percent for the same period last year. This has led to an improvement of 55 basis points in operating margin to 18.27 percent.
Operating income for the quarter was $272.30 million, compared with $252.80 million in the previous year period.
Commenting on the results, Blake D. Moret, president and chief executive officer, said, "Four percent organic growth in the quarter is a great start to the fiscal year, better than we expected. We returned to organic growth in our largest market, the U.S., and we saw double-digit growth in emerging markets. I am also pleased with the contribution from recent acquisitions, along with our strong margin performance."
For financial year 2017, Rockwell Automation, Inc. projects diluted earnings per share to be in the range of $5.56 to $5.96. It projects diluted earnings per share to be in the range of $5.95 to $6.35 on adjusted basis for the same period.
Operating cash flow improves significantly
Rockwell Automation, Inc. has generated cash of $310.80 million from operating activities during the quarter, up 68.18 percent or $126 million, when compared with the last year period.
The company has spent $37.60 million cash to meet investing activities during the quarter as against cash outgo of $91.30 million in the last year period.
The company has spent $151.90 million cash to carry out financing activities during the quarter as against cash outgo of $57.30 million in the last year period.
Debt moves up
Rockwell Automation, Inc. has witnessed an increase in total debt over the last one year. It stood at $1,899.50 million as on Dec. 31, 2016, up 14.85 percent or $245.60 million from $1,653.90 million on Dec. 31, 2015. Total debt was 26.78 percent of total assets as on Dec. 31, 2016, compared with 25.76 percent on Dec. 31, 2015. Debt to equity ratio was at 0.93 as on Dec. 31, 2016, up from 0.74 as on Dec. 31, 2015. Interest coverage ratio improved to 14.56 for the quarter from 14.53 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
