Eaton 2nd-quarter profit tops estimates

Reuters

NEW YORK (Reuters) - Diversified manufacturer Eaton Corp <ETN.N> posted a higher-than-expected quarterly profit on Monday amid strong industrial demand for electrical systems, and it raised its full-year forecast.

The maker of truck transmissions, hydraulics and electrical products said net earnings rose 49 percent to $336 million, or 97 cents per share, from $226 million, or 66 cents per share, a year earlier.

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The results beat the average analysts' estimate by 2 cents a share, according to Thomson Reuters I/B/E/S.

Eaton raised the midpoint of its 2011 profit forecast by 15 cents to a range of $3.90 to $4.10 per share from continuing operations. Analysts were looking for $3.92.

(Reporting by Nick Zieminski; Editing by Lisa Von Ahn)

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