Watts Water Technologies Reports Third Quarter EPS of $.46

Watts Water Technologies, Inc. WTS today announced results for the third quarter ended October 3, 2010. Net income per diluted share from continuing operations (EPS) for the third quarter of 2010 was $0.46. This represents an increase of 48% as compared to $0.31 of EPS reported in the third quarter of 2009. Third quarter 2010 EPS include a negative $0.06 impact from restructuring and impairment charges, which includes a $0.01 income tax charge related to the closure and move of a manufacturing facility. Adjusting for these items, third quarter 2010 EPS was $0.52, compared to third quarter 2009 adjusted EPS of $0.47, an increase of 11%. Foreign exchange negatively affected EPS by $0.03, primarily due to the euro weakening against the U.S. dollar compared to the same period last year.