November 6, 2012 / 11:55 AM / in 5 years

Emerson quarterly net profit declines 63 pct

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.

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