UPDATE 1-Rockwell Automation profit shy of Wall Street view
Jan 30 (Reuters) - Rockwell Automation Inc reported a steeper-than-expected 12 percent drop in quarterly profit on a weak demand for its systems that are used to help factories run more smoothly.
The company said on Wednesday that fiscal first-quarter earnings fell to $161.4 million, or $1.14 per share, from $183.3 million, or $1.27 per share, a year earlier.
Factoring out pension expenses, profit came to $1.23 per share, below analysts' average target of $1.27 per share, according to Thomson Reuters I/B/E/S.
Revenue rose 1 percent to $1.49 billion from $1.47 billion, a year earlier.
The Milwaukee-based company did not change its full-year profit forecast from November that called for earnings of $5.35 to $5.75 per share, a roughly 5 percent rise.