April 29 Eaton Corp, the diversified maker of electrical and hydraulic systems, posted a 16 percent rise in first-quarter net income on Tuesday, despite a negative impact from rough winter weather in North America.
The company backed its full-year profit forecast but projected second quarter earnings that appeared to be lower than Wall Street's estimate.
First-quarter net income rose to $439 million, or 92 cents per share, from $378 million, or 79 cents per share, a year ago.
Excluding one-time items, earnings of $1.01 per share topped the average analyst estimate by a penny, according to Thomson Reuters I/B/E/S. (Reporting by Lewis Krauskopf, Editing by Franklin Paul)