Rockwell Automation revenue rises 6.5 percent

25 January 2018

Rockwell Automation Inc reported a 6.5 percent rise in quarterly revenue on Wednesday, driven by higher demand for its factory automation equipment from sectors including oil and gas.

Rockwell, which in November rejected a sweetened takeover bid from bigger rival Emerson Electric Co, reported a loss of $236.4 million for the first quarter ended Dec. 31, compared with a profit of $214.7 million a year earlier.

The loss was due to charges associated with the new U.S. tax code, the company said.

On a per-share basis, the company reported a loss of $1.84 per share, compared with a profit of $1.65 per share.

Revenue rose to $1.59 billion from $1.49 billion.