UPDATE 1-Hillenbrand Q2 beats Street, raises FY10 outlook
* Q2 EPS $0.49 vs est $0.44
* Revenue $169.9 mln vs est $169.3 mln
May 6 (Reuters) - Funeral products maker Hillenbrand Inc (HI.N) posted a better-than-expected quarterly profit, helped by a strong performance at its casket business and higher margins, and raised its 2010 outlook.
With the completion of the acquisition of K-Tron International Inc, a maker of manufacturing process equipment, the company now sees 2010 adjusted earnings of $1.65 to $1.82 a share, on revenue of $740 million to $770 million.
It earlier forecast adjusted earnings of $1.45 to $1.70 a share, on revenue of $630 million to $670 million.
Analysts on average were expecting earnings of $1.70 a share, before items, on revenue of $700.1 million, according to Thomson Reuters I/B/E/S.
For the second quarter ended March 31, the company said net income was $29.4 million, or 47 cents a share, compared with $27.8 million, or 45 cents a share, a year ago.
Excluding items, the company earned 49 cents a share.
Revenue fell slightly to $169.9 million.
Analysts on average were expecting earnings 44 cents per share, before items, on revenue of $169.3 million.
Gross margin rose to 45.3 percent from 43.5 percent, helped by favorable steel prices.
Shares of the Batesville, Indiana-based company closed at $23.66 Wednesday on the New York Stock Exchange. (Reporting by Shobhana Chadha in Bangalore; Editing by Anne Pallivathuckal)
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