UPDATE 2-Rockwell Auto sees 2013 profit up about 5 percent
* Sees fiscal 2013 profit of $5.35-$5.75 a share
* Sees fiscal 2013 sales up 1-5 percent
* ``Not a lot of positive momentum,'' CEO says
* Quarterly earnings top Wall Street forecasts
Nov 5 (Reuters) - Rockwell Automation Inc, which makes systems that help factories run more smoothly, set a fiscal 2013 profit target that calls for roughly 5 percent growth in the face of a slowing global economy.
The company said on Monday demand for its products had weakened in the final months of fiscal 2012, which ended Sept. 30, as customers delayed purchases of its products. Rockwell said it would continue to look for ways to cut its operating costs.
``Growth rates moderated considerably as we moved through fiscal '12, and our current underlying demand trends are flat,'' Chief Executive Officer Keith Nosbusch told investors on a conference call. ``There is not a lot of positive momentum as we enter the new year. Each region has its own story, but the global economic recovery seems to have run out of steam at the moment.''
For the new fiscal year, the Milwaukee-based company said it expected a profit of $5.35 to $5.75 per share, excluding certain items. Analysts on average had forecast $5.46, according to Thomson Reuters I/B/E/S.
The midpoint of the company's outlook is about 5 percent higher than the $5.29 a share reported for fiscal 2012.
Rockwell forecast sales of $6.35 billion to $6.65 billion for the year, for growth of 1 percent to 5 percent. Analysts are $6.47 billion.
Growth will be stronger in the second half of the fiscal year, the company said.
Rockwell said it had earned $195.2 million, or $1.38 per share, in the fourth quarter ended Sept. 30, down from $201.8 million, or $1.39 per share, a year earlier.
Analysts on average had expected a profit of $1.32 per share.
Revenue rose 1 percent to $1.66 billion, also ahead of Wall Street forecasts.
Rockwell's rivals include Emerson Electric Co, Germany's Siemens AG and Japan's Mitsubishi Electric Corp. Emerson is scheduled to report results on Tuesday.