ITT Corporation Q2 Profit Increases, beats estimates

(RTTNews) - ITT Corporation (ITT) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $74.6 million, or $0.89 per share. This compares with $39.0M, or $0.45 per share, in last year's second quarter.

Excluding items, ITT Corporation reported adjusted earnings of $81.6 million or $0.98 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.0% to $733.3 million from $691.6M last year.

ITT Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $74.6 Mln. vs. $39.0M. last year. -EPS (Q2): $0.89 vs. $0.45 last year. -Analyst Estimate: $0.96 -Revenue (Q2): $733.3 Mln vs. $691.6M last year.

-Guidance: Full year EPS guidance: $4.35 to $4.65