Park-Ohio Posts Higher Q4 Profit

(RTTNews) - Park-Ohio Holdings Corp. (PKOH) reported net income for the fourth quarter of $10.7 million or $0.86 per share, compared to $8.9 million or $0.72 per share for the year-ago quarter.

Earnings per share from continuing operations increased 16% to $0.86 in the fourth quarter from $0.74 in the prior year quarter.

Excluding items, adjusted earnings per share for the fourth quarter increased to $0.90 from $0.85 in the fourth quarter of 2013.

Net sales for the fourth quarter rose to $373.0 million from $309.4 million a year ago.

Looking forward to full year 2015, the company forecasts revenue growth of about 14%, earnings per share from continuing operations of $4.30 to $4.70 and adjusted earnings per share of $4.32 to $4.72.