Oak Brook, Illinois, October 31, 2019 — Federal Signal Corporation (NYSE:FSS), a leader in environmental and safety solutions, today reported results for the third quarter ended September 30, 2019.
• Net sales of $309 million, up $39 million, or 15%, from last year
• Operating income of $38.6 million, up $8.2 million, or 27%, from last year
• GAAP EPS of $0.46, up $0.10, or 28%, from last year
• Adjusted EPS of $0.47, up $0.11, or 31%, from last year
• Orders of $329 million, up $61 million, or 23%, from last year
• Raising full-year adjusted EPS* outlook to a new range of $1.70 to $1.76, from the previous range of $1.64 to $1.72
Consolidated net sales for the third quarter were $308.8 million, up $39.4 million, or 15%, versus the same quarter a year ago. Net income for the third quarter was $28.4 million, equal to $0.46 per diluted share, compared to $21.7 million, equal to $0.36 per share, in the prior-year quarter.
The Company also reported adjusted net income for the third quarter of $28.9 million, equal to $0.47 per diluted share, up from $21.7 million, or $0.36 per diluted share, in the third quarter of last year. The Company is reporting adjusted results to facilitate comparisons of underlying performance on a year-over-year basis. A reconciliation of these and other non-GAAP measures is provided at the conclusion of this news release.
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