Colfax Q3 Profit Surges - Quick Facts

(RTTNews) - Colfax Corporation(CFX), Thursday reported a surge in its third-quarter profit, on sales increase. The company also recorded lower restructuring and litigation costs and interest expenses, that helped earnings. On adjusted basis, earnings per share exceeded the Street estimates.

Net income available to Colfax Corporation common shareholders was $50.3 million or $0.49 per share, compared with $4.02 million or $0.04 per share a year ago.

Adjusted net income for the three-month period was $64.1 million or $0.56 per share. On average, eleven analysts polled by Thomson Reuters expected the company to report earnings per share of $0.53 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter increased 6.3 percent to $1.01 billion, from $954.4 million a year ago. Analysts expected the company to generate revenues of $1.02 billion for the quarter.