expects its second-quarter earnings and revenue to increase from the year-ago period, thanks to repositioning efforts and growth initiatives.
The maker of electrical, electromechanical and electronic products projected that earnings per share for the quarter will be "up modestly versus 82 cents reported for the same period a year ago." Thirteen analysts polled by
Thomson Financial/First Call
are calling for earnings of 87 cents in the quarter.
Emerson, which is based in St. Louis, also said total sales should grow by about 5% for the quarter. Underlying sales, excluding acquisitions, divestitures and currency translation, are expected to increase by 5% to 6%. Sales in the year-ago period totaled $3.9 billion.
"As has been widely reported, several of Emerson's key markets, including communications, computing, appliances and industrial products, have been affected," the company said in a statement. "Like Emerson has done many times in the past, we are implementing a range of cost-controlling actions, which is key to weathering this type of broad economic downturn."
Shares of Emerson gained $2.61, or 4.4%, to $62.60 in recent
New York Stock Exchange