ThyssenKrupp Posts Q1 Profit

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(OTC: TKAMY) swung to a profit in the first quarter.ThyssenKrupp posted a net profit of EUR50 million, or 0.09 euro per share for the quarter, versus a year-ago loss of EUR65 million, or 0.12 euro per share. Its net profit for continuing operations came in at EUR54 million. However, analyst were expecting a profit of EUR63 million.Attributable earnings from continuing operations came in at 0.10 euro per share, versus a loss of 0.47 euro per share.Its sales climbed 11% to EUR10.04 billion from EUR9.09 billion. Sales for Components Technology rose 12%, while Elevator Technology sales climbed 11%. Industrial Solutions sales gained 7%, while Materials Services sales jumped 25%.Orders declined 5% to EUR10.09 billion versus EUR10.66 billion. The company's adjusted earnings before interest and taxes surged 29% to EUR317 million.ThyssenKrupp reiterated its fiscal-year guidance.