Rockwell Automation (ROK)

[MrBankRoll]

Rockwell Automation 2Q Profit Triples; Forecast Increased

Results handily beat analysts' expectations, and the company raised its 2010 forecast, now projecting earnings of $2.60 to $2.90 a share on revenue of $4.65 billion to $4.8 billion. It had projected $2 to $2.40 and $4.4 billion to $4.6 billion, respectively.

The maker of factory-automation equipment and software is seeing conditions improve after dealing with sliding demand over the past few years. Some analysts have said the company is a prime takeover target for General Electric Co. (GE) as the conglomerate shifts its focus to manufacturing and industrial growth from finance.

Rockwell reported profit of $137 million, or 95 cents a share, from $40.6 million, or 29 cents a share, a year earlier. Revenue rose 10% to $1.16 billion.

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201004280737dowjonesdjonline000493&title=rockwell-automation-2q-profit-triples-forecast-increased