UPDATE 1-ESCO profit misses estimates on lower sales to utilities

Wed May 9, 2012 5:26pm EDT

* Q2 adj EPS $0.41 vs est $0.42

* Q2 sales rose 4 percent to $174 million

May 9 (Reuters) - Engineered products maker ESCO Technologies Inc's profit missed estimates on lower sales at its utility business.

January-March net income fell to $10.2 million, or 38 cents per share, from $13.2 million, or 49 cents per share, a year ago.

Excluding a one-time tax charge, it earned 41 cents per share.

The company's revenue rose 4 percent to $174 million. Sales at its utility sales segment fell 12 percent.

Analysts on average had expected earnings of 42 cents per share on revenue of $173.8 million, according to Thomson Reuters I/B/E/S.

ESCO, incorporated in 1990, makes engineered products and systems that have industrial, aerospace and commercial applications.

Shares of the St. Louis, Missouri-based company closed at $33.19 on Wednesday on the New York Stock Exchange. They have lost 11 percent of their value in the last month.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.