- Net sales increased 3% (+3% core sales) to $509 million in the first quarter.
- Income from operations increased 11% to $61 million year-over-year resulting in a 90 basis point increase in operating margin to 12%.
- Reported net income from continuing operations increased to $14 million from a net loss of $1 million in the prior year; Adjusted net income increased 7% over the prior year to $24 million.
- Diluted earnings per share from continuing operations was $0.14; first quarter adjusted earnings per share was $0.24.
- Adjusted EBITDA in the first quarter was $93 million resulting in an adjusted EBITDA margin of 18.3%.
- Total liquidity was $657 million ($335 million of cash plus $322 million of available borrowings).
Rexnord Corporation First Quarter Results For Fiscal 2014
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.