Baldor Electric Co (BEZ) reported third-quarter net income of $12.592 million compared to $25.810 million last year. Earnings per share decreased to $0.27 from $0.55 prior year.
Net earnings per share excluding gain on debt modification was $0.27 compared to $0.55 last year.
On average, 9 analysts polled by Thomson Reuters expected the company to report profit of $0.28 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales decreased to $380.448 million from $506.154 million last year. Analysts expected revenue of $403.54 million for the quarter.
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