Rockwell Automation Inc. reported consolidated earnings results for the first quarter ended December 31, 2016. For the quarter, the company reported sales of $1,490.3 million compared to $1,426.6 million a year ago. Income before income taxes was of $257.6 million compared to $236.9 million a year ago. Net income was $214.7 million or $1.65 per share compared to $185.5 million or $1.40 per share a year ago. Cash provided by operating activities was of $310.8 million compared to $184.8 million a year ago. Capital expenditures were of $39.4 million compared to $40.2 million a year ago. Adjusted income was $227.3 million or $1.75 per share compared to $197.6 million or $1.49 per share a year ago. The increase is due to a combination of higher sales, improved margins and a lower tax rate.

The company provided earnings guidance for the fiscal 2017. For the year, the company expects diluted EPS from continuing operations of $5.56 to $5.96, adjusted EPS of $5.95 to $6.35. The Company now expects an effective tax rate of approximately 22.5% and an Adjusted Effective Tax Rate of approximately 23.5%. Previous margin guidance was about 20%. Now it's a little higher than 20%. For the full year, the company expects free cash flow conversion to be above 100% of adjusted income.