* Q1 EPS $0.61 vs est $0.44
* Q1 rev up at $217.7 mln, beats Street
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April 27 (Reuters) - Graco Inc, a maker of fluid-handling systems and components, posted quarterly results that breezed past market estimates, helped by a strong growth at its industrial division and rising sales at Asia Pacific.
The company, which has significant exposure to the construction and automotive markets, said it is optimistic that sales momentum will continue throughout the year.
Quarterly net income rose to $37.3 million, or 61 cents a share, from $20.6 million, or 34 cents a share, a year ago.
The company, which operates in industrial, contractor and lubrication segments -- reported a rise in sales at $217.7 million, up from $164.7 million.
Revenue from the industrial unit grew to $122.8 million from $96.8 million, while sales jumped 35 percent in Asia Pacific.
Analysts on average had expected earnings of 44 cents a share on revenue of $192.5 million, according to Thomson Reuters I/B/E/S.
The company, which was founded in 1926, competes with WW Grainger Inc, Fastenal Co and Roper Industries Inc.
Earlier this month, Graco had said it will buy diversified U.S. manufacturer Illinois Tool Works Inc's finishing businesses to increase its presence in the international markets.
Shares of Minneapolis, Minnesota-based Graco closed at $46.93 on Wednesday on the New York Stock Exchange.
(Reporting by Fareha Khan in Bangalore; Editing by Don Sebastian) Keywords: GEACO/ (fareha.khan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800 Reuters Messaging: fareha.khan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q1 rev up at $217.7 mln, beats Street
(Follows alerts)
April 27 (Reuters) - Graco Inc, a maker of fluid-handling systems and components, posted quarterly results that breezed past market estimates, helped by a strong growth at its industrial division and rising sales at Asia Pacific.
The company, which has significant exposure to the construction and automotive markets, said it is optimistic that sales momentum will continue throughout the year.
Quarterly net income rose to $37.3 million, or 61 cents a share, from $20.6 million, or 34 cents a share, a year ago.
The company, which operates in industrial, contractor and lubrication segments -- reported a rise in sales at $217.7 million, up from $164.7 million.
Revenue from the industrial unit grew to $122.8 million from $96.8 million, while sales jumped 35 percent in Asia Pacific.
Analysts on average had expected earnings of 44 cents a share on revenue of $192.5 million, according to Thomson Reuters I/B/E/S.
The company, which was founded in 1926, competes with WW Grainger Inc, Fastenal Co and Roper Industries Inc.
Earlier this month, Graco had said it will buy diversified U.S. manufacturer Illinois Tool Works Inc's finishing businesses to increase its presence in the international markets.
Shares of Minneapolis, Minnesota-based Graco closed at $46.93 on Wednesday on the New York Stock Exchange.
(Reporting by Fareha Khan in Bangalore; Editing by Don Sebastian) Keywords: GEACO/ (fareha.khan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800 Reuters Messaging: fareha.khan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.