UPDATE 1-Emerson Electric profit meets Wall Street target
Feb 5 (Reuters) - Diversified U.S. manufacturer Emerson Electric Co reported a 22.4 percent rise in quarterly profit on Tuesday, helped by shipments of equipment that had been delayed by heavy flooding in Thailand in fall 2011.
The company, whose products include industrial controls, uninterruptible power supplies and home-storage equipment, said net income attributable to common shareholders came to $454 million or 62 cents per share, in the first quarter ended on Dec. 31, compared with $371 million, or 50 cents per share, a year earlier.
The profit met the analysts' average forecast, according to Thomson Reuters I/B/E/S.
Revenue rose 4.6 percent to $5.55 billion from $5.31 billion a year earlier.
The St. Louis-based company said it expected to earn $3.53 to $3.63 a share for the year, with sales up 2 percent to 4 percent.
The company had previously warned that an uncertain economy at home and slowing demand in Europe would make for a difficult year.
Emerson's peers include Rockwell Automation Inc and Siemens AG.
At Monday's close, Emerson shares had risen about 12 percent over the past year, trailing the 14 percent rise of the broad Standard & Poor's 500 index.