Emerson selling embedded computing unit as charge hits profit

Tue Aug 6, 2013 6:43am EDT

Aug 6 (Reuters) - Emerson Electric Co reported a sharp drop in quarterly profit on Tuesday, hurt by an impairment charge for its embedded computing and power business, and said it was selling a majority stake in the business for about $300 million.

The diversified U.S. manufacturer said net income for the third quarter ended June 30 fell to $194 million, or 27 cents per share, from $770 million, or $1.04 per share, a year earlier.

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