WASHINGTON (dpa-AFX) - Emerson Electric Co. (EMR) reported that its second-quarter net earnings common stockholders was $545 million, down from $556 million in the same quarter last year. However, on a per share basis, net income rose to $0.74 from $0.73 in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.80 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $5.92 billion from $5.85 billion in the prior year quarter. Sixteen analysts had consensus revenue estimate of $6.00 billion for the quarter.
Looking ahead for the fiscal 2012, the company now expects earnings per share to be in the range of $3.35 to $3.50, compared to prior outlook of $3.45 to $3.60 per share. The company still expects reported sales growth 2 to 4 percent for fiscal 2012. Analysts expect the company to report earnings of $3.50 per share on revenues of $25.11 billion for fiscal 2012.
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