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ANNAPOLIS JUNCTION, Md. (AP) _ Colfax Corp. (CFX) on Thursday reported first-quarter net income of $19.1 million.
On a per-share basis, the Annapolis Junction, Maryland-based company said it had net income of 13 cents. Earnings, adjusted for one-time gains and costs, came to 44 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The manufacturing and engineering company posted revenue of $879.2 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $841.4 million.
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For the current quarter ending in July, Colfax expects its per-share earnings to range from 48 cents to 53 cents.
The company expects full-year earnings in the range of $2.05 to $2.15 per share.
Colfax shares have increased 19% since the beginning of the year. The stock has risen 83% 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 CFX at https://www.zacks.com/ap/CFX
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