Wabtec Corp. (WAB) Tuesday reported a rise in profit for the fourth quarter, helped mainly by higher sales. The company also issued a full-year earnings outlook which is currently above Street expectations.
Net income attributable to Wabtec shareholders increased to $64.77 million or $1.34 per share from $46.26 million or $0.96 per share in the same period last year.
On average, 11 analysts polled by Thomson Reuters expected the company to earn $1.31 per share for the quarter. Analysts' estimates typicaklly exclude special items.
Revenues totaled $610.4 million, up from $534.64 million last year. Analysts expected revenues of $609.87 million.
Looking ahead to the fiscal year 2013, Wabtec has forecast earnings at $5.85 per share, with expected revenue growth in the order of 8 percent to 10 percent. Analysts currently expect full-year earnings of $5.81 per share.
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