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Rockwell Automation Reports Fourth Quarter and Full Year 2014 Results - Rockwell Automation, Inc. has reported fiscal 2014 fourth quarter sales of US$1,781.8 million, up 3.9 per cent from US$1,715.7 million in the fourth quarter of fiscal 2013 - RockwellAutomation.com
Rockwell Automation Reports Fourth Quarter and Full Year 2014 Results

 

PRZOOM - /newswire/ - Singapore, Singapore, 2014/11/13 - Rockwell Automation, Inc. has reported fiscal 2014 fourth quarter sales of US$1,781.8 million, up 3.9 per cent from US$1,715.7 million in the fourth quarter of fiscal 2013 - RockwellAutomation.com. NYSE: ROK

   
 
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• Fourth quarter sales up 3.9 per cent year over year; up 4.4 per cent organically;
• Fourth quarter Adjusted EPS of US$1.86, up 15 per cent year over year; fourth quarter diluted EPS of US$1.79.

Rockwell Automation, Inc. has reported fiscal 2014 fourth quarter sales of US$1,781.8 million, up 3.9 per cent from US$1,715.7 million in the fourth quarter of fiscal 2013. Organic sales growth was 4.4 per cent, and currency translation reduced sales by 0.7 per cent. Fiscal 2014 fourth quarter sales were up 8.0 per cent compared to the third quarter of fiscal 2014, despite nearly a full point of currency headwind.

Fiscal 2014 fourth quarter Adjusted EPS was US$1.86, up 15 per cent compared to Adjusted EPS of US$1.62 in the fourth quarter of fiscal 2013. Total segment operating earnings were US$395.8 million in the fourth quarter of fiscal 2014, up 11 per cent compared to US$357.8 million in the same period last year. Total segment operating margin increased to 22.2 per cent from 20.9 per cent a year ago, primarily due to higher sales, partially offset by increased spending.

On a GAAP basis, fiscal 2014 fourth quarter net income was US$248.7 million or US$1.79 per share, compared to US$215.3 million or US$1.53 per share in the fourth quarter of fiscal 2013. Pre-tax margin increased to 19.0 per cent from 16.3 per cent in the same period last year.

Full Fiscal Year 2014

Sales were US$6,623.5 million in fiscal 2014, up 4.3 per cent compared to US$6,351.9 million in fiscal 2013. Organic sales increased 5.1 per cent, and currency translation reduced sales by 1.0 per cent.

Fiscal 2014 Adjusted EPS was US$6.17, up 8 per cent compared to Adjusted EPS of US$5.71 in fiscal 2013. Total segment operating earnings increased 9 per cent to US$1,352.0 million in fiscal 2014 compared to US$1,236.8 million in fiscal 2013. Total segment operating margin increased to 20.4 per cent from 19.5 per cent a year ago, primarily due to higher sales, partially offset by increased spending.

On a GAAP basis, fiscal 2014 net income was US$826.8 million or US$5.91 per share, compared to US$756.3 million or US$5.36 per share in fiscal 2013. Pre-tax margin increased to 17.1 per cent from 15.4 per cent a year ago.

Commenting on the results, Keith D. Nosbusch, Chairman and Chief Executive Officer, said,"Results in the quarter were about as we expected with strong earnings on solid sales growth. Adjusted EPS grew an impressive 15 per cent on 4.4 per cent organic sales growth.”

“For the full year we again achieved record sales and earnings per share. The U.S. led our sales performance with 7 per cent organic growth, whilst segment operating margin increased almost a point for the second year in a row.”

“We continued our strong track record of returning cash to shareowners in fiscal 2014 with over US$800 million in dividends and share repurchases. That represents 87 per cent of free cash flow for the year. During the year, we authorised an additional US$1 billion in share repurchases, and we have more than doubled the dividend over the last five years.”

"These results would not be possible without the efforts of our employees, partners, and suppliers, and I want to thank them all for their ongoing commitment to our customers and their contributions to our success.”

Outlook
Commenting on the outlook, Nosbusch said,“Despite heightened uncertainty in some regions, the U.S. economy remains strong, and forecasts call for continued moderate global economic growth. Based on these factors, along with underlying demand trends, we are projecting fiscal 2015 organic sales growth of 2.5 per cent to 6.5 per cent and initiating fiscal 2015 Adjusted EPS guidance of US$6.55 - US$6.95.”

“The key drivers of automation growth remain intact, and we believe we have the right strategy to capitalise on these opportunities. We will continue to invest in innovative technology and domain expertise to expand the value we provide to our customers, whilst delivering superior returns to our shareowners."

Following is a discussion of fourth quarter and full year results for both segments.

Architecture & Software
Architecture & Software fiscal 2014 fourth quarter sales were US$747.4 million, an increase of 4.6 per cent from US$714.3 million in the same period last year. Organic sales increased 5.2 per cent, and currency translation reduced sales by 0.7 per cent. Segment operating earnings were US$232.7 million in the fourth quarter of fiscal 2014 compared to US$217.7 million in the fourth quarter of fiscal 2013. Segment operating margin increased to 31.1 per cent in the fourth quarter of fiscal 2014 from 30.5 per cent a year ago.

Architecture & Software fiscal 2014 sales were US$2,845.3 million, an increase of 6.1 per cent from US$2,682.0 million last year. Fiscal 2014 organic sales were up 6.8 per cent, and currency translation reduced sales by 0.7 per cent. Segment operating earnings were US$839.6 million in fiscal 2014 compared to US$759.4 million in fiscal 2013. Segment operating margin increased to 29.5 per cent in fiscal 2014 from 28.3 per cent a year ago.

Control Products & Solutions
Control Products & Solutions fiscal 2014 fourth quarter sales were US$1,034.4 million, an increase of 3.3 per cent from US$1,001.4 million in the same period last year. Organic sales increased 3.8 per cent, and currency translation reduced sales by 0.8 per cent. Segment operating earnings increased 16 per cent to US$163.1 million in the fourth quarter of fiscal 2014 compared to US$140.1 million in the fourth quarter of fiscal 2013. Segment operating margin was 15.8 per cent in the fourth quarter of fiscal 2014, compared to 14.0 per cent a year ago.

Control Products & Solutions fiscal 2014 sales were US$3,778.2 million, an increase of 3.0 per cent from US$3,669.9 million last year. Organic sales increased 3.8 per cent, and currency translation reduced sales by 1.1 per cent. Segment operating earnings increased to US$512.4 million in fiscal 2014 compared to US$477.4 million in fiscal 2013. Segment operating margin was 13.6 per cent in fiscal 2014 compared to 13.0 per cent a year ago.

About Rockwell Automation
Rockwell Automation, Inc. (rockwellautomation.com), the world’s largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs about 22,000 people serving customers in more than 80 countries.

 
 
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Rockwell Automation Reports Fourth Quarter and Full Year 2014 Results

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Contact: Joy Francisco - APConnections.com for Rockwell 
+65 6334 9045 joy[.]apconnections.com
 
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