Rexnord Turns To Profit In Q1 - Quick Facts

(RTTNews) - Rexnord Corp. (RXN) reported first-quarter net income attributable to company of $13.8 million or $0.14 per share, compared to a loss of $2.2 million or $0.02 per share, last year. Adjusted net income was $24.3 million or $0.24 per share, for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.19 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $508.7 million from $493.6 million last year. Analysts expected revenue of $493.56 million for the quarter.

The company expects its second-quarter, sales to be in the range of $510 million to $520 million and adjusted EPS in the range of $0.23 to $0.25. Analysts expect the company to report second-quarter perofit per share of $0.27 on revenue of $508.63 million.

The company increased its full year core sales growth guidance to 2% to 4% and increased the low end of its adjusted EPS range by $0.02 resulting in a full year EPS guidance range of $1.12 to $1.18. Analysts expect the company to report profit per share of $1.12 for the full year.