Rockwell Automation (ROK)

[Investorman]

UPDATE 1-Rockwell Automation cont ops profit up
Thu Nov 8, 2007 7:39am EST
(Adds revenue, forecast)

BOSTON, Nov 8 (Reuters) - Rockwell Automation Inc (ROK.N: Quote, Profile, Research) said on Thursday quarterly profit from continuing operations -- which factors out the effect of the sale of a large unit -- rose on solid demand for its industrial automation systems.

The manufacturer reported fourth-quarter profit from continuing operations of $163.8 million, or $1.07 per share, compared with $156.8 million, or 89 cents per share, a year earlier.

Net profit was $165.2 million, or $1.08 per share, compared with $165.8 million, or 94 cents, a year earlier.

Revenue came to $1.37 billion, up 14.8 percent from $1.19 billion a year earlier.

Rockwell said it expects to report a 2008 profit of $4.25 to $4.45 per share on revenue growth of 10 to 12 percent.

The Power Systems unit, which Rockwell sold this year to Baldor Electric Co (BEZ.N: Quote, Profile, Research), last year accounted for 18 percent of revenue. (Reporting by Scott Malone; editing by Mark Porter/John Wallace)