Colfax: Q2 Earnings Snapshot

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.

For the current quarter ending in October, Colfax expects its per-share earnings to range from 50 cents to 55 cents.

The company expects full-year earnings in the range of $2.10 to $2.20 per share.

Colfax shares have risen 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $45.24, an increase of 48% 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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