Hexagon first quarter earnings in line, upbeat on demand
STOCKHOLM (Reuters) - Measurement technology group Hexagon AB (HEXAb.ST) posted a rise in first-quarter operating earnings in line with market expectations on Monday after seeing healthy demand, especially in emerging markets.
Operating earnings at the group, the market leader in a specialized sector straddling software and engineering hardware, rose to 121 million euros ($157 million)from a year-ago 111 million to come in marginally below the mean forecast of 123 million in a Reuters poll of analysts.
The company, which sells under brands such as Leica Geosystems as well as its own name, said demand in the engineering sector had improved in the quarter while a rebound in U.S. construction underpinned growth in the Americas region.
Hexagon, whose like-for-like sales rose 4 percent in the quarter, said demand had continued to accelerate in Asia, mainly spurred by China.
($1 = 0.7709 euros)
(Reporting by Niklas Pollard and Johannes Hellstrom)