Woodward, Inc. (WWD) Monday reported a rise in profit for the second quarter, helped mainly by higher revenues.
Net income for the quarter increased to $42.45 million or $0.61 per share from $38.75 million or $0.55 per share in the same period last year.
On average, nine analysts polled by Thomson Reuters expected the company to earn $0.60 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $485.51 million, up from $468.79 million last year. Analysts expected revenues of $502.26 million last year.
Looking ahead to the fiscal year 2013, the company currently projects earnings in the range of $2.22 and $2.35 per share. This compares to the previous guidance range of $2.22 and $2.42 per share.
Full-year sales are expected to range between $1.9 billion and $2.0 billion. Analysts currently expect the company to report full-year earnings of $2.28 per share on revenues of $1.97 billion.
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