Watts Water Technologies (WTS) reported third quarter net income of $3.4 million or $0.09 per share, compared to $16.7 million or $0.45 per share in the prior year period.
Income from continuing operations attributable to Watts Water Technologies, Inc. for the third quarter decreased to $11.6 million or $0.31 per share, compared to $16.3 million or $0.44 per share a year-ago.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share. Analysts' estimates typically exclude special items.
The company said the results for the third quarter of 2009 include a loss from discontinued operations of $8.2 million, of which $7.3 million is from the estimated loss on disposal of Watts Valve (Changsha) Co., Ltd..
Sales for the third quarter were $303.8 million, compared to $372.0 million in the same period a year-ago. Twelve Wall Street analysts expected revenues of $304.17 million.
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