ANNAPOLIS JUNCTION, Md. (AP) _ Colfax Corp. (CFX) on Wednesday reported second-quarter net income of $28.6 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 profit of 18 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The manufacturing and engineering company posted revenue of $985.9 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $920.2 million.