Rockwell Automation Inc. reported consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company's sales were $1,426.6 million, down 9.4% from $1,574.4 million in the first quarter of fiscal 2015. Adjusted EPS was $1.49, down 9% compared to $1.64 in the first quarter of fiscal 2015. On a GAAP basis, fiscal 2016 first quarter net income was $185.5 million or $1.40 per diluted share, compared to $214.2 million or $1.56 per diluted share in the first quarter of fiscal 2015. Cash flow provided by operating activities was $184.8 million against $268.2 million a year ago. Capital expenditure was $40.2 million against $40.0 million a year ago. Income before income tax was $236.9 million against $287.5 million a year ago.

The company is revising adjusted EPS guidance from the previous range of $5.90 to $6.40 to a new range of $5.70 to $6.20. The change in EPS guidance as about a $0.14 improvement due to the tax rate, about a $0.16 decline due to the additional currency headwind and about an $0.18 decline that is a combination of lower organic sales and a lower-margin expectation. The company continue to expect to convert about 100% of net income to free cash flow. Previously, the company expects a full year adjusted tax rate of 27%. The company now expects that to be 25%, reflecting the benefit of the R&D tax credit. The company now expecting fiscal 2016 sales of approximately $5.9 billion.