Federal Signal Q1 Profit From Cont. Opns Down; Backs FY Adj. EPS View

(RTTNews) - Federal Signal Corp. (FSS) reported that its first quarter income from continuing operations declined to $10.4 million, or $0.17 per share, from $14.4 million or $0.22 per share, in the prior-year quarter.

Adjusted net income from continuing operations for the first quarter was $11.7 million, or $0.19 per share, down from $14.4 million or $0.22 per share, in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share. Analysts' estimates typically exclude special items.

Consolidated net sales for the first quarter were $172.8 million, down 12% versus the same quarter a year ago.

The company currently believe that its adjusted earnings per share for the year 2016 will be within its previously indicated range of $0.70 to $0.80. Analysts expect annual earnings of $0.78 per share.