Franklin Electric Q4 Income Down, Misses Estimates - Update

(RTTNews) - (Adds Outlook)

Franklin Electric Co Inc (FELE) reported a profit for fourth quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $38.549 million, or $0.82 per share. This compares with $39.579 million, or $0.84 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.4% to $472.970 million from $489.431 million last year.

Outlook:

Looking ahead, Franklin Electric has initiated full-year guidance in line with analysts' estimates. The company expects to report net income per share of $4.22 to $4.40. On average, five analysts polled by Thomson Reuters expect the firm to earn $4.37 per share, for the year. Analysts' estimate typically excludes special items.

The firm projects sales of $2.10 billion to $2.17 billion, in line with analysts' estimate of $2.14 billion, for the year.

Franklin Electric Co Inc Q4 earnings at a glance (GAAP) :

-Earnings (Q4): $38.549 Mln. vs. $39.579 Mln. last year. -EPS (Q4): $0.82 vs. $0.84 last year. -Analyst Estimates: $0.84 -Revenue (Q4): $472.970 Mln vs. $489.431 Mln last year.