Rockwell Earnings Drop 77% YTY in 3Q

Rockwell Automation, Milwaukee, had a tough third quarter and according to a Reuters report. CEO Keith Nosbusch said the automation giant's initial fiscal 2010 profit forecast in a wide range that called for anything from an 11 percent rebound to a 19 percent drop. According to that report he told analysts on a conference call, "At this point, we would characterize business conditions as stable, but at demand levels well below the peak of the cycle. We expect a recovery, but no one knows what the shape of the recovery will be."