Thomas & Betts Corp., Memphis, said its fourth-quarter profit rose. The company earned $25.8 million, up 6 percent from $24.2 million, during the same period a year ago. The results included a tax charge of $16.4 million, or 27 cents per share.
Sales totaled $443 million, up 11 percent from $400.1 million last year.
Electrical segment fourth-quarter sales were $352.5 million, a 9.6 percent increase over the fourth quarter 2004. Solid demand in industrial, light commercial construction and utility distribution markets drove the sales improvement.
Electrical segment earnings were $44.9 million in the fourth quarter, up 52.6 percent compared to the fourth quarter 2004.
For 2006, Thomas & Betts said it expects mid-single digit sales growth and earnings between $2.35 to $2.45, including an expense of 6 cents per share for stock-based compensation.
"We believe that we will continue to see solid underlying demand in industrial, commercial and utility markets in 2006," said Dominic Pileggi, the company’s CEO.