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ANNAPOLIS JUNCTION, Md. (AP) _ Colfax Corp. (CFX) on Thursday reported first-quarter net income of $4.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Annapolis Junction, Maryland-based company said it had net income of 3 cents. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The manufacturing and engineering company posted revenue of $816.4 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $792.2 million.
Colfax shares have declined 35% since the beginning of the year. The stock has decreased 20% 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 CFX at https://www.zacks.com/ap/CFX
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