Regal Beloit Corp. (RBC) reported that its fourth quarter net income attributable to the company was $34.7 million, up from $20.6 million reported in the comparable period of 2008. Earnings per share were $0.90 as compared to $0.63 per share reported in the fourth quarter of 2008. Income from operations was $53.5 million, compared to $39.6 million in the comparable period of 2008.
Net sales of $463.3 million decreased 4.1% as compared to the $483.0 million reported for the fourth quarter of 2008. Diluted earnings per share were $0.90 as compared to $0.63 for the fourth quarter of 2008.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.64 per share on revenues of $434.61 million for the quarter. Analysts' estimates typically exclude special items.
The company expects first quarter earnings to be in the range of $0.76 to $0.84. Analysts expect the company to report earnings of $0.62 per share.
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