ITT Corporation Q1 Earnings Decline 11%

(RTTNews) - ITT Corporation (ITT) announced a profit for first quarter that lost ground from last year.

The company said its bottom line dropped to $53.3 million, or $0.59 per share. This was lower than $59.9 million, or $0.65 per share, in last year's first quarter.

Analysts had expected the company to earn $0.59 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.5% to $609.1 million. This was up from $588.7 million last year.

ITT Corporation earnings at a glance:

-Earnings (Q1): $53.3 Mln. vs. $59.9 Mln. last year. -Earnings Decline (Y-o-Y): -11.0% -EPS (Q1): $0.59 vs. $0.65 last year. -EPS Decline (Y-o-Y): -9.2% -Analysts Estimate: $0.59 -Revenue (Q1): $609.1 Mln vs. $588.7 Mln last year. -Revenue Change (Y-o-Y): 3.5%

-Guidance: Full year EPS guidance: $2.42 - $2.68