Graco Inc. (GGG) announced financial results for the third quarter, posting net income of $17.3 million or $0.29 per share, compared to $32.8 million or $0.54 per share in the prior year period.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter were $147.3 million, compared to $207.2 million in last year period. The company said the sales and orders decreased in all segments and regions compared to last year.
Six Wall Street analysts expected revenues of $141.44 million for the quarter.
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