UPDATE: Emerson Electric Reports Rise In FQ4 Profit, Lifts Dividend

Emerson Electric Co

reported a rise in its fiscal fourth-quarter income. Emerson Electric's quarterly profit rose to $761 million, or $1.01 per share, from $749 million, or $0.98 per share, in the year-ago period. The latest quarter earnings included $0.03 per share in discontinued operations. Its revenue gained 12% to $6.55 billion. However, analysts were expecting earnings of $0.96 per share on revenue of $6.59 billion. Emerson Electric also raised its quarterly dividend by 16% to $0.40 per share. Emerson Electric's gross margin dropped to 39.6% from 39.9%. EMR shares fell 0.04% to $48.10 in after-hours trading.