American Standard Beats

American Standard ( ASD ) Wednesday reported record first-quarter revenue and raised full-year earnings guidance.

The company earned $84.6 million, or $1.14 a share, on revenue of $2.18 billion, vs. $63.8 million, or 87 cents a share, on revenue of $1.95 billion in the year-ago period. Analysts were expecting $1.13 a share, based on the consensus view of Thomson First Call.

The company also offered earnings guidance, saying it expected EPS of $2.02 to $2.16 in the second quarter and $6.25 to $6.60 in fiscal-year 2004. Previously, the company forecast a range of $6.20 to 6.60 a share. The consensus estimates are for $2.09 a share and $6.43 a share in the respective periods.

"We're seeing some improvement in economic conditions, but certain important markets are still lagging," the New Jersey-based manufacturer said.

Shares closed at $112.50 yesterday.

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