Rexnord Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended December 28, 2013. For the quarter, the company reported net sales of $489.1 million compared to $471.7 million a year ago. Income from operations was $67.5 million compared to $59.5 million a year ago. Income from continuing operations before income taxes was $41.1 million compared to $15.3 million a year ago. Net income from continuing operations was $28.6 million or $0.28 per diluted share compared to $11.4 million or $0.11 per diluted share a year ago. Net income attributable to the company was $28.7 million or $0.28 per diluted share compared to $9.2 million or $0.09 per diluted share a year ago. EBITDA was $90.0 million compared to $79.1 million a year ago. Adjusted EBITDA was $98.0 million compared to $92.0 million a year ago. Adjusted net income was $33.9 million or $0.34 per diluted share compared to $18.7 million or $0.19 per diluted share a year ago. Cash flow was solid in the quarter, as the company generated $72 million of free cash flow, effectively funding the acquisition of Precision Gear.

For the nine months, the company reported net sales of $1,512.3 million compared to $1,464.8 million a year ago. Income from operations was $201.1 million compared to $180.6 million a year ago. Loss from continuing operations before income taxes was $28.8 million compared to income from continuing operations before income taxes of $40.5 million a year ago. Net loss from continuing operations was $10.3 million or $0.11 per diluted share compared to net income from continuing operations of $31.0 million or $0.31 per diluted share a year ago. Net loss attributable to the company was $9.8 million or $0.10 per diluted share compared to net income attributable to the company of $26.2 million or $0.26 per diluted share a year ago. EBITDA was $138.2 million compared to $234.2 million a year ago. Adjusted EBITDA was $293.5 million compared to $290.0 million a year ago. Adjusted net income was $88.7 million or $0.89 per diluted share compared to $65.5 million or $0.66 per diluted share a year ago. Cash provided by operating activities was $93.4 million compared to $49.1 million a year ago. Expenditures for property, plant and equipment were $31.6 million compared to $41.5 million a year ago.

For the fourth quarter, the company expects tax rate of approximately 35% to 37%. The company anticipates sales to be in the range of $575 million to $590 million, with core growth of approximately 6% and adjusted EPS in the range of $0.46 to $0.50.

The company is raising full year 2014 adjusted EPS guidance range to $1.35 to $1.39, reflecting third quarter results, latest outlook, benefit of the recently completed Precision Gear Holdings acquisition as well as the inclusion of incremental expenses will incur related to acquisition opportunities that are currently pursuing. Tax rate of approximately 31% to 33%.