Wabco Holdings Beats Estimates (WBC)

Piscataway, New Jersey-based Wabco Holdings Inc. WBC on Friday morning released financial results that beat Wall Street expectations. Wabco Holdings Inc reported that its 4th quarter net income rose to $64.6 million, or 96 cents per share, from $38.7 million, or 59 cents per share, a year earlier. Excluding special items, the company earned 93 cents per share. Wabco Holdings Inc reported revenue of $627.2 million, up from $459.6 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 90 cents per share, on revenue of $624.04 million. Chairman and Chief Executive Officer Jacques Esculier said, "Q4 2010 was another period of outstanding results as we significantly grew sales by 41 percent in local currencies while at the same time delivering an incremental operating profit margin at the remarkable level of 28 percent." Wabco Holdings Inc. (WBC) ended the previous trading session at $57.22 per share. Analysts covering the company's stock have a consensus price target of $66.43 per share. Wabco Holdings Inc is a leading supplier of safety and control systems for commercial vehicles. WABCO has pioneered breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the world's leading commercial truck, trailer and bus manufacturers. Read more from Benzinga's Company news.