- 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
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