(Corrects reported EPS, estimate in first bullet point)
* Q3 earnings $1.33/share vs Street view $1.31
* Cuts 2012 profit view to $5.00-$5.20/share
* Says Latin America, Asia demand weakening
* Strong dollar taking a toll
July 25 Rockwell Automation Inc cut its
profit forecast for the remainder of fiscal 2012 on Wednesday,
saying slower growth in Latin America and emerging Asian
markets, as well as the strong dollar, would take a toll on
The U.S. maker of systems that help factories run more
smoothly said it now expects full-year earnings of $5.00 to
$5.20 per share, or a 5 percent to 9 percent increase from the
previous year. At its midpoint, the outlook is 15 cents below
Rockwell's previous forecast.
"Most economic indicators have weakened from a quarter ago
and the global political environment remains unsettled," Chief
Executive Keith Nosbusch said in a statement released by
The Milwaukee-based company's sales and earnings growth has
slowed this year as Europe's woes and a cooling Chinese economy
have led its big industrial customers to temper their capital
spending plans. Weak corporate confidence has also taken a toll
on suppliers of electronics and shipping services, with
companies ranging from United Parcel Service Inc to AT&T
Inc lowering their growth forecasts.
Rockwell said it now expects sales to reach $6.2 billion in
its 2012 fiscal year, which ends in September, below its most
recent forecast of $6.25 billion to $6.45 billion.
Net income for its third fiscal quarter, ended June 30, rose
to $190.7 million, or $1.33 per share, from $178.8 million, or
$1.22 per share, a year earlier.
The earnings per share beat the average Wall Street forecast
by 2 cents, according to Thomson Reuters I/B/E/S.
Sales rose 3 percent to $1.56 billion, just below forecasts
of $1.6 billion. Factoring out exchange-rate fluctuations,
revenue would have been up 7 percent; the strong dollar
diminishes the value of sales made outside the United States.
Rockwell's rivals include Emerson Electric Co,
Germany's Siemens AG and Japan's Mitsubishi Electric
Rockwell shares have lost about 10 percent of their value so
far this year, at a time when the Standard & Poor's capital
goods industry index is up 4 percent.
(Reporting by Nick Zieminski in New York and Scott Malone in
Boston; Editing by Lisa Von Ahn, Gerald E. McCormick and John