UPDATE: Emerson Electric Reports Q2 Net Income of $567 million

Emerson Electric Co EMR reported its Q2 net income at $567 million, up from $418 million, in the year-earlier period. The company's earnings came in at $0.73 per share, up from $0.53 per share. The company's net sales surged 18% to $5.85 billion. However, analysts were expecting earnings of $0.75 per share on sales of $5.82 billion. Emerson projects 2011 earnings per share in the range of $3.20 to $3.30 per share. EMR shares fell 0.51% to close at $60.50 yesterday. Read more from Benzinga's Company news.