Franklin Electric Q1 Profit Rises

(RTTNews) - Franklin Electric Co., Inc. (FELE) Tuesday reported first-quarter profit of $17.0 million, or $0.35 per share, compared to $15.5 million or $0.32 per share last year.

Adjusted earnings for the quarter were $0.35 per share, up from $0.33 per share. On average, four analysts polled by Thomson Reuters expected the company to earn $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $231.42 million from $222.52 million last year. Analysts expected sales of $237.21 million.

Looking ahead, the company is expecting first-quarter adjusted operating earnings to grow by 9 to 11 percent.