Watts Water Technologies Q4 Profit Increases, beats estimates

(RTTNews) - Watts Water Technologies (WTS) reported a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $40.1 million, or $1.18 per share. This compares with $29.2 million, or $0.86 per share, in last year's fourth quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $48.0 million or $1.42 per share for the period.

Analysts on average had expected the company to earn $1.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.5% to $473.9 million from $403.4 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q4): $40.1 Mln. vs. $29.2 Mln. last year. -EPS (Q4): $1.18 vs. $0.86 last year. -Analyst Estimate: $1.33 -Revenue (Q4): $473.9 Mln vs. $403.4 Mln last year.