UPDATE: Lennox International Q4 Profit Beats Expectations

reported upbeat results for the fourth quarter. The Richardson, Texas-based company posted quarterly income from continuing operations of $46 million, or $1.00 per share, versus $34 million, or $0.68 per share, in the year-ago quarter. Excluding certain items, the company's adjusted income from continuing operations climbed to $1.02 per share from $0.77 per share. Its revenue rose 8% to $812.8 million, while revenue at constant currency climbed 10%. However, analysts were estimating a profit of $0.99 per share on revenue of $787.38 million. Revenue for Residential Heating and Cooling segment rose 13% to $404 million, while Commercial Heating and Cooling revenue gained 5% to $223 million. Refrigeration revenue gained 4% to $186 million. Gross profit rose 9% to $225 million, while gross margin came in flat at 27.7%. Cash from operations rose to $161 million from $145 million. "2014 was a year of strong growth and record profitability for Lennox International, led by 10% revenue growth at constant currency and 31% profit growth in our Residential business," said Chairman and CEO Todd Bluedorn. Lennox reiterated its full-year earnings of $5.20 to $5.60 per share. Lennox shares slipped 1.39% to close at $98.31 on Friday.