Gates Industrial beats 4Q profit forecasts

DENVER (AP) _ Gates Industrial Corp. (GTES) on Tuesday reported fourth-quarter net income of $118.8 million.

On a per-share basis, the Denver-based company said it had profit of 46 cents. Earnings, adjusted for one-time gains and costs, were 24 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The manufacturer of power transmission and fluid power systems posted revenue of $781.8 million in the period.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GTES at https://www.zacks.com/ap/GTES