MILWAUKEE (AP) -- Rockwell Automation Inc.'s fiscal third-quarter profit rose 6.2 percent, but warned that the weakening economy may slow its growth in the fourth quarter and cut its earnings and revenue predictions for the full year.
The Milwaukee-based industrial equipment and software maker said Wednesday that it earned $190.7 million, or $1.33 per share, up from $179.5 million, or $1.23 per share, in the same quarter last year.
Total sales rose 2.9 percent to $1.56 billion from $1.52 billion. Sales of control products and solutions rose 6.3 percent to $896.6 million, while architecture and software sales edged down about a percent to $663.8 million.
The profit beat Wall Street predictions, while revenue fell short. Analysts, on average, expected a profit of $1.31 per share on $1.6 billion in revenue.
Rockwell noted that economic conditions have weakened significantly over the past quarter and that the global political environment remains shaky. Based on that and its fiscal third-quarter sales, the company said it now expects slower growth in the fourth quarter, particularly in Latin America and emerging markets in Asia.
As a result, Rockwell said it now expects to post a fiscal 2012 profit of $5 to $5.20 per share on about $6.2 billion in revenue. The company previously projected a profit of $5.10 to $5.40 per share on $6.25 billion to $6.45 billion in revenue.
Analysts polled by FactSet expect earnings of $5.22 per share on $6.36 billion in revenue.
Rockwell shares fell $1.42, or 2.2 percent, to $63.73 in morning trading.
