Watts Water Q1 Profit From Cont. Ops. Decreases - Quick Facts

(RTTNews) - Watts Water Technologies, Inc. (WTS) reported first-quarter net income from continuing operations of $11.6 million, compared to $14.1 million, last year. Net income per share was $0.33 compared to $0.40. Adjusted earnings per share from continuing operations was $0.45, for the quarter. Adjusted Non-GAAP earnings per share excluding acquisition was $0.43.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.42 for the quarter. Analysts' estimates typically exclude special items.

Sales of $356.2 million, a decrease of 2.5% as compared to the same period last year. Analysts expected revenue of $346.28 million for the quarter.

Watts Water Technologies also declared a quarterly dividend of $0.17 per share on each outstanding share of the company's Class A Common Stock and Class B Common Stock.