U.S. Markets close in 36 mins

Franklin Electric: 4Q Earnings Snapshot

FORT WAYNE, Ind. (AP) _ Franklin Electric Co. (FELE) on Tuesday reported fourth-quarter net income of $24.2 million.

On a per-share basis, the Fort Wayne, Indiana-based company said it had profit of 51 cents. Earnings, adjusted for restructuring costs, were 52 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The water and fuel pumping systems company posted revenue of $316.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $310.8 million.

For the year, the company reported profit of $105.9 million, or $2.23 per share. Revenue was reported as $1.3 billion.

Franklin Electric shares have risen 18 percent since the beginning of the year. The stock has climbed 14 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