This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Rockwell Automation Reports First Quarter 2014 Results

Stocks in this article: ROK

Rockwell Automation, Inc. (NYSE: ROK) today reported fiscal 2014 first quarter sales of $1,591.7 million, up 7 percent from $1,489.2 million in the first quarter of fiscal 2013. Organic sales growth was also 7 percent as the net effect of acquisitions and currency translation was negligible.

Fiscal 2014 first quarter Adjusted EPS was $1.47, up 20 percent compared to Adjusted EPS of $1.23 in the first quarter of fiscal 2013. Total segment operating earnings were $328.0 million in the first quarter of fiscal 2014, up 19 percent from $276.0 million in the same period of fiscal 2013. Total segment operating margin increased to 20.6 percent from 18.5 percent a year ago, primarily due to higher sales.

On a GAAP basis, fiscal 2014 first quarter net income was $198.1 million or $1.41 per share, compared to $161.4 million or $1.14 per share in the first quarter of fiscal 2013. Pre-tax margin increased to 17.1 percent in the first quarter of fiscal 2014 from 14.6 percent in the same period last year.

Commenting on the results, Keith D. Nosbusch, chairman and chief executive officer, said, “Sales in the U.S. were robust and I was pleased to see the Asia Pacific region return to growth. Overall organic sales growth of 7 percent and Adjusted Earnings per Share growth of 20 percent provide a strong start to the fiscal year.”

Outlook

Commenting on the outlook, Nosbusch added, “Given our performance in the first quarter, we are raising the low end of our guidance. We now expect organic sales growth of 3 to 6 percent and Adjusted EPS of $6.00 to $6.35.”

Following is a discussion of first quarter results for both segments.

Architecture & Software

Architecture & Software fiscal 2014 first quarter sales were $695.9 million, an increase of 6 percent from $657.5 million in the same period last year. Segment operating earnings were $211.9 million in the first quarter of fiscal 2014 compared to $183.2 million in the first quarter of fiscal 2013. Segment operating margin increased to 30.4 percent in the first quarter of fiscal 2014 from 27.9 percent a year ago, primarily due to higher sales. The first quarter results also benefited from the favorable resolution of certain legal matters, which contributed approximately 1 percentage point to the segment operating margin in the quarter.

1 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs