Feb 5 U.S. manufacturer Eaton Corp said
fourth-quarter net profit fell more than Wall Street expected,
reflecting lower demand for its electrical and hydraulic systems
used in cars, trucks and aircraft.
The company said on Tuesday that earnings dropped to $179
million, or 46 cents per share, from $362 million, or $1.07 per
share, a year earlier.
Factoring out costs related to its acquisition of Cooper
Industries, Eaton earned 82 cents a share, below analysts'
average target of 93 cents per share, according to Thomson
Its shares fell 2 percent to $55.25 in premarket trading.
Revenue rose 7 percent to $4.33 billion from $4.03 billion a
year earlier, but stripping out acquisitions and exchange-rate
fluctuations it was down 6 percent.
The company expects 2013 earnings to grow by about 8 percent
to a range of $4.05 to $4.45 per share.