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The following content is from an older version of this website, and may not display correctly.Eaton, a diversified provider of power-management products, including an extensive line of offerings for the data center, reported an upswing in quarterly earnings and sales earlier this week, which led it to raise its full-year earnings guidance by 10 percent.
Eaton reported $1.57 earnings per share on $3.6bn in sales for the third quarter of 2010. The figures represent a 38-percent increase in EPS and an 18-percent increase in revenue year-over-year. The company's Chairman and CEO Alexander Cutler attributed the jump in sales entirely to core segments.
"The results reflect the outstanding achievements of our employees around the world, who have capitalized on the continued rebound in our end markets while realizing the benefits of the substantial changes in our cost structure implemented over the past two years," Cutler said in a statement.
Because of unexpectedly high third-quarter results and an optimistic fourth-quarter outlook, Eaton has raised its 2010 guidance by 10 percent, anticipating the full-year EPS to be between $5.30 and $5.40, according to Cutler.
Eaton closed acquisitions of EMC Engineers and Wright Line during the third quarter and acquisition of CopperLogic in early October. EMC Engineers does facility design and building in addition to mechanical and electrical design. Wright Line is a provider of consoles, enclosures and furniture for data centers, control rooms, NOC's, manufacturing facilities, etc. CopperLogic provides industrial control products and electrical and electromechanical systems.
Eaton reported $1.57 earnings per share on $3.6bn in sales for the third quarter of 2010. The figures represent a 38-percent increase in EPS and an 18-percent increase in revenue year-over-year. The company's Chairman and CEO Alexander Cutler attributed the jump in sales entirely to core segments.
"The results reflect the outstanding achievements of our employees around the world, who have capitalized on the continued rebound in our end markets while realizing the benefits of the substantial changes in our cost structure implemented over the past two years," Cutler said in a statement.
Because of unexpectedly high third-quarter results and an optimistic fourth-quarter outlook, Eaton has raised its 2010 guidance by 10 percent, anticipating the full-year EPS to be between $5.30 and $5.40, according to Cutler.
Eaton closed acquisitions of EMC Engineers and Wright Line during the third quarter and acquisition of CopperLogic in early October. EMC Engineers does facility design and building in addition to mechanical and electrical design. Wright Line is a provider of consoles, enclosures and furniture for data centers, control rooms, NOC's, manufacturing facilities, etc. CopperLogic provides industrial control products and electrical and electromechanical systems.