Emerson quarterly net profit declines 63 pct

Tue Nov 6, 2012 6:51am EST

Nov 6 (Reuters) - U.S. industrial conglomerate Emerson Electric Co reported a sharply lower quarterly net profit on Tuesday, reflecting a goodwill charge in its network power business, and said it expected earnings to grow by at least a single-digit percentage rate in fiscal 2013.

Net earnings fell 63 percent to $282 million, or 39 cents per share, in the fourth quarter ended Sept. 30, compared with $761 million, or $1.01 per share, a year earlier.

Sales rose 2 percent to $6.70 billion.