Mine Safety Appliances Co. or MSA (MSA: Quote) posted higher first-quarter net income attributable to the company of $23.92 million, or $0.64 per share, compared with $13.31 million or $0.36 per share last year. On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.50 for the quarter. Analysts' estimates typically exclude one-time items.
Net sales were $293.48 million compared with $276.5 million for the 2011 first quarter, an increase of 6 percent. Analysts estimated revenues of $283.18 million for the quarter.
"Our first quarter results reflect the successful implementation of our corporate strategy to focus on core products, emerging markets, continued cost efficiencies and our European transformation," said William Lambert, MSA President and CEO.
Click here to receive FREE breaking news email alerts for Mine Safety Appliances Co. and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com