U.S. Markets closed

ITT: 4Q Earnings Snapshot

WHITE PLAINS, N.Y. (AP) _ ITT Corp. (ITT) on Friday reported fourth-quarter net income of $51.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the White Plains, New York-based company said it had profit of 59 cents. Earnings, adjusted for one-time gains and costs, were 82 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The supplier of parts and services to a wide variety of industries posted revenue of $678.4 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $697.5 million.

For the year, the company reported profit of $333.7 million, or $3.76 per share. Revenue was reported as $2.75 billion.

ITT expects full-year earnings in the range of $3.42 to $3.66 per share.

ITT shares have increased 17 percent since the beginning of the year. The stock has risen slightly more than 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 ITT at https://www.zacks.com/ap/ITT