WASHINGTON (dpa-AFX) - (Adds Outlook)
Ametek Inc. (AME) released earnings for its third quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $297.64 million, or $1.30 per share. This compares with $257.46 million, or $1.11 per share, in last year's third quarter.
Excluding items, Ametek Inc. reported adjusted earnings of $1.45 per share for the period.
Analysts on average had expected the company to earn $1.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 7.6% to $1.55 billion from $1.44 billion last year.
Outlook:
AMETEK, citing continued strong performance, raised full-year adjusted earnings guidance to $5.61 - $5.63 a share from its earlier guidance of $5.46 to $5.54. It also sees a sales growth of about 10% from last year.
For the fourth quarter, it expects a 6% to 7% increase in adjusted earnings per share to $1.45- $1.47 a share.
Analysts on average, expect AMETEK to report earnings of $5.5 a share for the full year, and $1.43 for the fourth quarter.
Ametek Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $297.64 Mln. vs. $257.46 Mln. last year. -EPS (Q3): $1.30 vs. $1.11 last year. -Analyst Estimate: $1.37 -Revenue (Q3): $1.55 Bln vs. $1.44 Bln last year.
-Guidance: Next quarter EPS guidance: $1.45 to $1.47 Full year EPS guidance: $5.61 to $5.63
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