STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — ITT Corp. (ITT) on Wednesday reported first-quarter net income of $78 million.
On a per-share basis, the Stamford, Connecticut-based company said it had profit of 89 cents. Earnings, adjusted for one-time gains and costs, were $1.98 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.
The supplier of parts and services to a wide variety of industries posted revenue of $1.21 billion in the period.
ITT expects full-year earnings in the range of $7.70 to $8 per share.
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