BELOIT, Wis. _ Regal Beloit Corp. (RBC) on Monday reported third-quarter earnings of $51.3 million.
The Beloit, Wisconsin-based company said it had profit of $1.17 per share. Earnings, adjusted for one-time gains and costs, were $1.67 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The maker of controls for electric motors posted revenue of $925.4 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $930 million.
Regal Beloit expects full-year earnings in the range of $5.85 to $5.95 per share.
Regal Beloit shares have dropped slightly more than 1 percent since the beginning of the year. The stock has declined 6.5 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBC at https://www.zacks.com/ap/RBC