Watts Water Technologies, Inc. (WTS: Quote) announced preliminary results for the first quarter ended April 1, 2012. Net income on a GAAP basis for the first quarter is expected to range from $15.0 million to $16.0 million, or from $0.40 to $0.43 per share.
The company expects sales for the first quarter to be about $364 million, an increase of approximately 10%, compared to the first quarter of 2011. A majority of the sales increase is attributable to the acquisition of Socla, which was purchased in April 2011.
Analysts currently expect first quarter earnings of $0.59 per share and revenues of $370.40 million.
by RTT Staff Writer
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