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Emerson Electric raises fiscal 2008 profit prediction

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May 6, 2008

ST. LOUIS—Emerson Electric Co. raised its earnings prediction for the fiscal year, citing favorable order trends and strong first-half results.

The electrical products maker said Tuesday it expects earnings from continuing operations, which exclude some one-time gains and losses, in the range of $3 per share to $3.10 per share, compared with a previous expectation of $2.95 per share to $3.05 per share.

Emerson still expects full-year sales of about $25 billion.

For the fiscal year ending in September, analysts predict a profit of $3.01 per share on sales of $24.75 billion, according to a poll by Thomson Financial. Analysts typically exclude one-time items from their estimates.

Shares rose $1.98, or 3.7 percent, to $55.40 in midday trading.

(This version CORRECTS 2nd graf to show Emerson made the announcement Tuesday not late Monday.)

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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