Fortive Corp. said its normalized net income for the fiscal third quarter ended Sept. 29 amounted to 59 cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.
EPS climbed 9.9% year over year from 54 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $208.1 million, an increase of 11.1% from $187.4 million in the year-earlier period.
The normalized profit margin increased to 12.3% from 12.0% in the year-earlier period.
Total revenue rose 7.5% on an annual basis to $1.69 billion from $1.57 billion, and total operating expenses increased 6.8% from the prior-year period to $1.33 billion from $1.24 billion.
Reported net income rose 18.2% year over year to $268.2 million, or 76 cents per share, from $227.0 million, or 65 cents per share.
