Gates Industrial: Q4 Earnings Snapshot

DENVER (AP) — DENVER (AP) — Gates Industrial Corp. (GTES) on Thursday reported fourth-quarter profit of $51.3 million.

The Denver-based company said it had net income of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The manufacturer of power transmission and fluid power systems posted revenue of $856.2 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $851.7 million.

Gates Industrial expects full-year earnings in the range of $1.52 to $1.68 per share.

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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 GTES at https://www.zacks.com/ap/GTES