WASHINGTON (dpa-AFX) - ITT Corporation (ITT) revealed a profit for second quarter that dropped from last year.
The company's bottom line came in at $39.0 million, or $0.45 per share. This compares with $48.0 million, or $0.53 per share, in last year's second quarter.
Excluding items, ITT Corporation reported adjusted earnings of $81.7 million or $0.94 per share for the period.
Analysts had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 34.4% to $691.6 million from $514.7 million last year.
ITT Corporation earnings at a glance:
-Earnings (Q2): $81.7 Mln. vs. $49.7 Mln. last year. -EPS (Q2): $0.94 vs. $0.57 last year. -Analysts Estimate: $0.90 -Revenue (Q2): $691.6 Mln vs. $514.7 Mln last year.
-Guidance: Full year EPS guidance: $3.90 - $4.05
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