Franklin Electric Q4 Profit Rises - Quick Facts

(RTTNews) - Franklin Electric Co., Inc. (FELE) Wednesday reported fourth-quarter profit of $13.3 million, up from $13.1 million in the same period last year. On a per-share basis, earnings were $0.27, flat with last year.

Adjusted Earnings for the quarter were $13.0 million or $0.30 per share. On average, three analysts polled by Thomson Reuters expected the company to earn $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $229.7 million from $205.2 million last year. Analysts expected sales of $218.67 million.

Looking ahead, the company is expecting first-quarter sales and adjusted EPS to grow by 6 to 8 percent over last year.

Additionally, the Board of Directors of Franklin Electric have elected Gregg Sengstack as its new Chief Executive Officer, succeeding Scott Trumbull who is retiring on May 2.

Gregg Sengstack has been serving President and Chief Operating Officer since 2011, and has previously Senior Vice President and President, Franklin Fueling Systems and International Water Group. He has also held numerous positions in the Company's Finance organization before becoming CFO.