Fortive Corp (NYSE: FTV) posted better than expected earnings for the fourth quarter of FY 18. FTV has completed the divestiture of the Automation & Specialty business in the fourth quarter on October 1, 2018, and accordingly, have included the results of the A&S business as discontinued operations for current and historical periods. For the fourth quarter 2018, the company has reported the adjusted net earnings from continuing operations of $325.1 million

FTV in the fourth quarter of FY 18 has reported the adjusted earnings per share of 91 cents, beating the analysts’ estimates for the adjusted earnings per share of 86 cents. The company had reported the adjusted revenue growth of 11.4 percent to $1.76 billion in the fourth quarter of FY 18, which is in line with the analysts’ estimates for revenue of $1.76 billion. This reflects a core revenue increase of 7.4%. All platforms posted core revenue growth highlighted by Transportation Technologies, product realization and sensing technologies as well as very strong performance of Fluke and Industrial Scientific. Acquisitions, including Gordian and Accruent, contributed 580 basis points of top-line growth, while unfavorable foreign exchange rates reduced growth by 180 basis points. Geographically, high-growth markets core revenue grew high single digits with continued strength in Asia and Latin America. This growth was led by Gilbarco Veeder-Root, Tektronix and Fluke. China, in particular, posted a strong quarter with low double-digit growth. Developed markets’ core revenue grew high single digits, reflecting continued strength in North America. Core revenue growth in North America was high single digits, led by strong performances at GVR, Fluke, EMC and Industrial Scientific. Western Europe grew low single digits, led by high single-digit growth at GVR and Sensing Technologies and mid-single-digit growth at Tektronix.

For the first quarter of 2019, Fortive anticipates diluted net earnings per share from continuing operations to be in the range of $0.40 to $0.44 and adjusted diluted net earnings per share from continuing operations to be in the range of $0.64 to $0.68. For the full year 2019, Fortive expects diluted net earnings per share from continuing operations to be in the range of $2.56 to $2.66. For the full year 2019, Fortive expects adjusted diluted net earnings per share from continuing operations to be in the range of $3.40 to $3.50, which excludes any contribution from the pending acquisition of the Advanced Sterilization Products business from Johnson & Johnson.