Altra Holdings Inc. (AIMC) reported that its first-quarter net income decreased to $10.5 million, or $0.39 per share, from $10.7 million, or $0.40 per share, in the first quarter of 2011.
First-quarter 2012 net income includes $0.2 million in acquisition-related costs. Excluding these costs, non-GAAP adjusted earnings per share was $0.40 per share.
First-quarter net sales increased 20% to $192.4 million compared with $159.8 million in the prior-year quarter. This represents 4% growth, excluding acquisitions.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share on revenues of $189.13 million for the quarter. Analysts' estimates typically exclude special items.
Altra maintained its guidance for full year 2012. The Company is forecasting sales in the range of $740 million to $760 million and non-GAAP adjusted earnings per share of $1.50 to $1.60. Analysts expect the company to report earnings of $1.56 per share on revenues of $749.23 million for fiscal 2012.
For comments and feedback: editorial@rttnews.com