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Earnings Analysis: 
Rockwell Automation Net Drops due to Outstanding Shares
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:29 AM EDT April 27 2006



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Rockwell Automation, maker of automation and control systems, reported that Q2 net income dropped to $146.5 million, or 81 cents a share, from $150 million, or 79 cents a share in the year-ago period.

 
Rockwell Automation, (ROK: chart), pointed out that in Q2 there were more outstanding shares. The company added its Q2 net income included 2 cents a share charge for legal matters.The company beat analysts’ forecasts for earnings of 75 cents a share.

Coca-Cola Enterprises, (CCE: chart), soda distributor, reported Q1 earnings of 3 cents a share, down from a profit of 10 cents a share a year-ago despite 3% revenue growth. Items, such as restructuring charges aside, the company earned 9 cents a share in Q1, in line with analyst estimate of analysts.

AutoNation Inc., (AN: chart), automotive products retailer, reported Q1 earnings from continuing operations of 37 cents a share, up from a profit of 33 cents a share a year-ago. Q1 results include a charge of a penny per share from stock option expensing. Revenue advanced 4% in Q1. The company met analysts views for a profit of 37 cents a share.

Kellogg Co, (K: chart), cereal and packed-foods maker, reported that Q1 income advanced to 68 cents a share, up from 61 cents a year earlier. If not for stock-option expense, earnings would have been 71 cents a share. Sales rose to $2.73 billion from $2.57 billion in Q1 last year. The company beat analysts'' estimates of 63 cents a share.

Reynolds American, (RAI: chart), tobacco company, reported Q1 earnings of $2.34 a share, up from $1.90 a share in the year-ago period. If not for non-recurring items, earnings would have been $1.89 a share, topping analyst estimate for earnings of $1.87 a share. The company affirmed its expectations for 2006 earnings of $8 to $8.40 a share.

OfficeMax Inc, (OMX: chart), office products retailer, reported Q1 net earnings loss of 37 cents a share, down from a loss of 7 cents a share a year-ago. If not for special items, such as charges related to restructuring activities, the company would have posted earnings of 77 cents a share. Sales in Q1 advanced to $2.42 billion from $2.32 billion in the same period a year ago. Same-store sales were up 1.2%. If not for the charges, the company would have topped analysts’ estimate for a profit of 33 cents a share.

Terra Industries Inc, (TRA: chart), nitrogen and methanol producer, reported a Q1 net loss of 27 cents a share, down from a profit of 3 cents a share in the year-ago period due to revenue decline. The company added Q1 was more difficult and less active than expected but that it expects a better Q2. The company missed analysts’ forecasts for earnings of 7 cents a share.

Janus Capital Group Inc., (JNS: chart), asset manager, reported Q1 net income came to 17 cents a share, up from 9 cents in the year-ago quarter on revenue growth, matching analysts expectations for earnings of 17 cents a share.

Asbury Automotive Gorup Inc, (ABG: chart), automobile retailer, reported Q1 earnings of 37 cents a share, up from 29 cents a share in the year-ago period. If not for non-recurring items, earnings would have risen to 43 cents a share from 37 cents a share. Revenue advanced 8% on new vehicle retail revenue rising 7% and used vehicle retail revenue increasing 13%. Same-store retail revenue advanced 6%. The company beat analysts’ expectations by a penny.

Timken Co., (TKR: chart), bearings manufacturer, reported that Q1 net income increased 13% to 70 cents a share, from 63 cents a share in the year-earlier period on revenue growth. Items not taken into account, net income advanced to 71 cents a share from 64 cents a share, topping analysts’ forecasts for earnings of 68 cents a share.
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