reported fourth-quarter earnings today that met Wall Street's slightly lowered expectations.
For the fourth quarter ended Dec. 31, American Standard earned $58 million, or 81 cents a diluted share, excluding items, up from $53 million, or 73 cents a share, in the year-ago period. Nine analysts polled by
First Call/Thomson Financial
expected the company, which is based in Piscataway, N.J., to earn 81 cents a share.
American Standard, which makes air conditioning systems, house fixtures and braking systems, also posted fourth-quarter revenue of $1.77 billion, up slightly from $1.75 billion in the same quarter one year ago.
The company said it expects 5% to 6% sales growth and a 13% to 17% earnings increase in fiscal 2001.
"While we expect the first quarter to show little economic growth, we do anticipate improving conditions throughout the year," the company said.