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CLEVELAND (AP) - The industrial manufacturer Eaton Corp. said Thursday that first-quarter profit rose 40 percent as sales increased in its electrical products and truck segments.
But Eaton shares fell more than 7 percent as the company warned that earnings for the second quarter would come in below estimates.
The company said its income grew to $187 million, or $1.19 per share, in the January-March period from $134 million, or 85 cents per share, a year ago. Excluding restructuring charges from acquisitions, the company reported operating earnings of $193 million, or $1.23 per share, up from $138 million, or 88 cents per share, a year ago.
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