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NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Monday reported fourth-quarter net income of $55.8 million.
The North Andover, Massachusetts-based company said it had profit of $1.67 per share. Earnings, adjusted for one-time gains and costs, were $1.97 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $547.5 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $532.4 million.
For the year, the company reported profit of $262.1 million, or $7.82 per share. Revenue was reported as $2.06 billion.
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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 WTS at https://www.zacks.com/ap/WTS