ITT tops Street 4Q forecasts

WHITE PLAINS, N.Y. (AP) _ ITT Corp. (ITT) on Tuesday reported fourth-quarter earnings of $25.8 million.

The White Plains, New York-based company said it had profit of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to 48 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The supplier of parts and services to a wide variety of industries posted revenue of $588.4 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $551 million.

For the year, the company reported profit of $186.1 million, or $2.07 per share. Revenue was reported as $2.41 billion.

ITT expects full-year earnings in the range of $2.18 to $2.48 per share.

ITT shares have climbed nearly 10 percent since the beginning of the year. The stock has climbed 40 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITT at https://www.zacks.com/ap/ITT

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Keywords: ITT, Earnings Report