Xylem Inc. (XYL), a global water technology company, posted third quarter net income of $106 million or $0.58 per share, compared to $73 million or $0.39 per share in the year ago quarter.
Adjusted net income for the latest third quarter was $97 million or $0.53 per share, up from $92 million or $0.49 per share in the prior year quarter.
Revenue for the latest third quarter was was $963 million, down from $965 million in the prior year period.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.52 per share and revenues of $982.06 million for the quarter. Analysts' estimates typically exclude special items.
Xylem narrowed its earnings guidance, and now expects adjusted earnings per share of $1.92 to $1.98, reflecting 15 to 19 percent growth over 2013. Full-year 2014 revenue is still expected to be approximately $4 billion, up 2% versus the prior year.
Wall Street currently is looking for fiscal year 2014 earnings of $1.95 per share on annual revenues of $3.95 billion.
Earlier, the company expected full-year adjusted earnings in the range of $1.90 to $2.00 per share.
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