Hubbell Inc. (HUB-A,HUB-B) reported fourth-quarter net income attributable to the company of $81.3 million, down slightly from $82.0 million in the year-ago period.
Earnings per share for the latest quarter were $1.38, and includes about $0.06 of restructuring costs within the company's electrical segment. This compared to earnings of $1.38 per share in the year-ago period.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $1.26 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter grew 5 percent to $848.8 million from $806.6 million in the year-ago period. Analysts had a consensus revenue estimate of $838.13 million for the quarter.
Looking ahead to fiscal 2015, Hubbell forecasts earnings in a range of $5.35 to $5.55 per share, including about $0.25 per share of restructuring and related costs. The company projects overall sales for the year to increase 5 to 7 percent, with acquisitions contributing between 5 and 6 percent.
Hubbell said it is facing several headwinds, including the impact of lower oil prices on its Harsh and Hazardous businesses, and unfavorable foreign exchange rates.
Street expects the company to earn $5.87 per share for the year on revenue growth of 3.8 percent to $3.48 billion.
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