Fort Wayne, Indiana – October 30, 2013 - Franklin Electric Co., Inc. (NASDAQ:FELE) reported third quarter 2013 diluted earnings per share (EPS) of $0.51, an increase of 11 percent compared to 2012 third quarter diluted EPS of $0.46. In the third quarter of 2013, the Company’s adjusted EPS was $0.50, a 9 percent increase over the adjusted EPS during the third quarter 2012 (see table below for a reconciliation of GAAP EPS to the adjusted EPS).

Third quarter 2013 sales were $249.8 million, an increase of 5 percent compared to 2012 third quarter sales of $237.6 million. The Company’s organic sales growth was 5 percent excluding acquisitions and the impact of foreign currency translation.

Scott Trumbull, Franklin Chairman and Chief Executive, commented:

“We are pleased to report that our earnings per share during the third quarter were the highest for any third quarter in the Company’s history. Our global sales of Pioneer branded mobile dewatering systems and Little Giant branded waste water pumps increased by more than 25 percent during the quarter. In addition, we continued to achieve high single digit organic sales growth for our Water and Fueling products in developing regions after excluding the impact of foreign currency translation. These factors along with ongoing productivity improvements and expense controls enabled us to increase our earnings per share after non-GAAP adjustments by 9 percent compared to the record third quarter of 2012 and improve our operating income margin after non-GAAP adjustments by 60 basis points to 14.8 percent of sales.”


The financial information on this page about Franklin Electric Co., Inc. has previously been made available for public dissemination through press releases. The placement of such press releases on this particular page of the Franklin Electric Company website is intended to set apart and distinguish financial information from other non-financial information found on this site, including product, service, marketing and technical information. Regardless of the language used and the resulting interpretations that may or could be reached, such product, service, marketing, technical, and/or any other information found within other pages of this site should in no way be construed to be financial in nature or represent the past, current or future financial results of Franklin Electric Co., Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including but not limited to, general economic and currency conditions, various conditions specific to the Company's business and industry, market demand, competitive factors, supply constraints, technology factors, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Securities and Exchange Commission filings. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. We do not assume any obligation to update any forward-looking information. While we may elect to update the forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.

We Value Your Feedback