Watts Water Technologies Q4 Profit Increases, beats estimates

(RTTNews) - Watts Water Technologies (WTS) released a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $68.6 million, or $2.05 per share. This compares with $40.1 million, or $1.18 per share, in last year's fourth quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $1.60 per share for the period.

Analysts on average had expected the company to earn $1.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.9% to $501.9 million from $473.9 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q4): $68.6 Mln. vs. $40.1 Mln. last year. -EPS (Q4): $2.05 vs. $1.18 last year. -Analyst Estimate: $1.53 -Revenue (Q4): $501.9 Mln vs. $473.9 Mln last year.