UPDATE: Gardner Denver Posts Upbeat Q3 Profit, Lifts FY12 Forecast

Gardner Denver

reported an upbeat third-quarter profit and lifted its full-year profit outlook. Gardner now projects adjusted full-year earnings of $5.47 to $5.57 per share. Gardner Denver's quarterly earnings fell to $64.1 million, or $1.30 per share, from $73.6 million, or $1.42 per share, in the year-ago period. Excluding items, it earned $1.32 per share. Its revenue dropped 11% to $548.5 million. However, analysts were expecting a profit of $1.21 per share on revenue of $560.21 million. Gardner Denver shares gained 1.74% to close at $67.15 on Friday.