Pentair reaffirms 2009 outlook, sets 2010 guidance

AP News
Posted: Dec 17, 2009 6:46 PM

Pentair Inc., which makes systems to treat and store water, on Thursday reaffirmed its 2009 outlook and set 2010 profit and revenue guidance.

The company expects profit between 40 cents and 44 cents per share, excluding charges, in the fourth quarter and earnings per share of $1.40 to $1.44 for the full year.

On average, analysts polled by Thomson Reuters expect profit of 43 cents per share in the fourth quarter and $1.43 per share for the full year.

Looking ahead, the company said it expects profit of at least $1.70 per share in 2010, on sales of about $2.8 billion. Analysts expect profit of $1.82 per share excluding items on sales of $2.73 billion.

Shares of Pentair fell 23 cents to close at $32.11.