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.