Modine Manufacturing Co (MOD) Misses Q1 EPS by 12c, Maintains FY Outlook
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Modine Reports First Quarter Fiscal 2016 Results
July 31, 2015 8:00 AM EDT
RACINE, Wis., July 31, 2015 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD) today reported first quarter sales of $346.1 million compared to $392.5 million one year ago. The year-over-year decline was primarily due to a $40 million negative foreign currency impact. Operating income was $11.6 million and adjusted operating income was $14.2 million in the quarter. Net earnings per share were $0.11 and adjusted earnings per share were $0.14. First-quarter results were in line with company expectations, as sales and earnings were impacted by unfavorable conditions in several key markets and the negative impact associated with the strong... More
