San Francisco– Industrial automation company Rockwell Automation has reported revenues of $1.73 billion for the fourth quarter ending September 30, with $345.9 million in net income compared to $204.6 million in the fourth quarter last year.

For the full fiscal year 2018, sales were $6.6 billion — up 5.6 per cent from $6.3 billion in fiscal 2017 as organic sales grew 5.5 per cent, the company said in a statement late Thursday.

“Our 7 per cent organic sales growth (in the fourth quarter) was in line with expectations, driven by growth across a very broad range of industries,” said Blake D. Moret, Chairman and Chief Executive Officer.

“We had several other key accomplishments this year, including our partnership with PTC (software and services company), which will accelerate future growth,” he added.

In the wake of the US tax reform, Rockwell Automation has significantly increased its capital deployment to deliver long-term shareowner value, “including its $1 billion equity investment in PTC, $1.5 billion of share repurchases, and raising the annual dividend twice for a total increase of over 20 per cent”.

Heavy industries was the largest growth driver for the company this year.

“We saw particularly strong performance in semiconductor, mining and metals. Consumer verticals grew at about the company average, led by food and beverage and life sciences,” Moret added. (IANS)