BELOIT, Wis. (AP) _ Regal Beloit Corp. (RBC) on Monday reported first-quarter earnings of $65.6 million.

On a per-share basis, the Beloit, Wisconsin-based company said it had profit of $1.60. Earnings, adjusted for non-recurring costs, were $1.98 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.

The maker of controls for electric motors posted revenue of $814.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $780 million.

For the current quarter ending in July, Regal Beloit expects its per-share earnings to range from $1.85 to $2.05.

Regal Beloit shares have increased 18% since the beginning of the year. In the final minutes of trading on Monday, shares hit $144.74, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBC at https://www.zacks.com/ap/RBC

Copyright by Automated Insights, Inc. All rights reserved.

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