Reuters: Regulatory News: UPDATE 1-Xylem 1st-qtr earnings fall on higher costs

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UPDATE 1-Xylem 1st-qtr earnings fall on higher costs May 3rd 2012, 13:25 Thu May 3, 2012 9:25am EDT May 3 (Reuters) - Water technology company Xylem posted a lower quarterly profit on higher costs but its revenue rose as its water infrastructure business saw demand in emerging markets. The company, which was spun off from ITT Corp in October, reported first-quarter earnings of $63 million, or 34 cents per share, compared with $78 million, or 42 cents per share a year ago. Xylem, which makes products like analytical instruments, pumps and accessories and controllers, said its acquisition of YSI Inc is contributing to earnings and the integration is ahead of plan. Revenue rose 4 percent to $925 million. Water infrastructure segment revenue grew 6 percent. Selling, general and administrative expenses rose 10 percent to $231 million. The White Plains, New York-based company also maintained its full-year earnings and revenue outlook. Xylem shares closed at $27.76 on Wednesday on the New York Stock Exchange.

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