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Lufkin Industries Inc. (NASDAQ:LUFK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2%.
Lufkin Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.87 in the quarter versus EPS of $0.80 in the year-earlier quarter.
Revenue: Rose 27.37% to $355.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lufkin Industries Inc. reported adjusted EPS income of $0.87 per share. By that measure, the company beat the mean analyst estimate of $0.84. It beat the average revenue estimate of $345.82 million.
Quoting Management: “We are pleased with our financial performance in 2012, delivering record revenues and bookings,” said John F. “Jay” Glick, president and chief executive officer of Lufkin. “We continued to benefit from strong demand for our artificial lift products, particularly in North America, and from ongoing operational improvements at our U.S. manufacturing facilities. Our revenue growth was led by a combination of organic growth in our Power Transmission Division, our core pumping unit segment and our Automation segment, which delivered record performance, as well as external growth from the two major acquisitions of Quinn’s and Zenith.”
Key Stats (on next page)…
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