ITT Corporation Q4 Profit Increases, beats estimates

(RTTNews) - ITT Corporation (ITT) announced earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $115.2 million, or $1.39 per share. This compares with $103.6 million, or $1.20 per share, in last year's fourth quarter.

Excluding items, ITT Corporation reported adjusted earnings of $107.4 million or $1.29 per share for the period.

Analysts on average had expected the company to earn $1.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.0% to $774.6 million from $685.4 million last year.

ITT Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $115.2 Mln. vs. $103.6 Mln. last year. -EPS (Q4): $1.39 vs. $1.20 last year. -Analyst Estimate: $1.24 -Revenue (Q4): $774.6 Mln vs. $685.4 Mln last year.