Watts Water Technologies Q4 Profit Decreases, but beats estimates

(RTTNews) - Watts Water Technologies (WTS) revealed a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $55.8 million, or $1.67 per share. This compares with $68.9 million, or $2.05 per share, in last year's fourth quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $66.1 million or $1.97 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.1% to $547.5 million from $501.9 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q4): $55.8 Mln. vs. $68.9 Mln. last year. -EPS (Q4): $1.67 vs. $2.05 last year. -Analyst Estimates: $1.78 -Revenue (Q4): $547.5 Mln vs. $501.9 Mln last year.