Ametek raises FY profit outlook

July 24 Tue Jul 24, 2012 7:17am EDT

July 24 (Reuters) - Diversified manufacturer Ametek Inc reported a better-than-expected quarterly profit on growth at its aerospace and oil and gas businesses, and the company raised its full-year profit forecast.

For the full year, the company expects earnings between $1.83 and $1.85 per share, up from its prior forecast of $1.80 to $1.83 per share.

Second-quarter net income rose to $113.7 million, or 47 cents per share, from $94.1 million, or 39 cents per share, a year earlier.

Net sales rose 9 percent to $825.9 million. Sales at its electronic instruments segment grew 11 percent to $452.1 million.

Analysts on average expected the company to earn 46 cents per share on revenue of $861.5 million, according to Thomson Reuters I/B/E/S.