Federal Signal Swings To Profit In Q1; Backs 2014 EPS View

(RTTNews) - Environmental and safety solutions provider Federal Signal Corp. (FSS) posted first-quarter income from continuing operations of $7.6 million, or $0.12 per share, as against a loss of $1.1 million, or $0.02 per share, in the prior-year quarter.

Also, the company reported adjusted net income from continuing operations of $7.5 million, or $0.12 per share for the quarter, up 42%, compared with $5.3 million, or $0.08 per share, a year ago. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.17 for the quarter. Analysts' estimates typically exclude one-time items.

Three-month consolidated net sales were $200.2 million, up slightly versus the same quarter a year before.

Looking ahead to 2014, the company is confident of remaining on track to grow earnings per share to at least $0.79. Four analysts project annual earnings of $0.85 per share.