Agricultural and construction equipment maker CNH Global N.V. (CNH) on Tuesday reported higher profit for the first quarter, amid a marginal rise in revenue sand lower expenses.
Net income attributable to the company increased to $326 million from $269 million. Earnings per share improved to $1.33 from $1.11. On average, 6 analysts polled by Thomson Reuters expected earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues grew to $4.95 billion from $4.9 billion in the prior year. Analysts expected revenues of $4.52 billion.
Total expenses fell to $4.508 billion from $4.54 billion, amid lower interest expense.
For fiscal 2013, the company expects revenues to be up around 5 percent and operating margin between 8.5 percent and 9.0 percent.
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