FORT WAYNE, Ind. (AP) _ Franklin Electric Co. (FELE) on Friday reported third-quarter net income of $30 million.
The Fort Wayne, Indiana-based company said it had profit of 63 cents per share. Earnings, adjusted for restructuring costs, were 64 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The water and fuel pumping systems company posted revenue of $341.9 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $340.5 million.
Franklin Electric expects full-year earnings in the range of $2.27 to $2.37 per share.
Franklin Electric shares have decreased 11 percent since the beginning of the year. The stock has decreased nearly 7 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FELE at https://www.zacks.com/ap/FELE