UPDATE 1-Watts Water Technologies Q3 adj profit beats estimates

* Q3 adj EPS $0.52 vs est $0.51

* Q3 rev $314.6 mln vs est $320.1 mln

Nov 2 (BestGrowthStock) – Plumbing products maker Watts Water
Technologies (WTS.N: ) posted an adjusted quarterly profit above
market estimates, helped by higher demand for its products in
North America.

For the third quarter, the company which makes valves that
control water flow, filtration systems and drainage devices,
posted net income of $17.3 million, or 46 cents a share,
compared with $11.6 million, or 31 cents a share a year ago.

Revenue at the company, which competes with Flowserve Corp
(FLS.N: ), rose 4 percent to $314.6 million. North America sales
rose 5 percent to $ 191.8 million.

Analysts on average had expected earnings of 51 cents a
share, before special items, on revenue of $320.1 million,
according to Thomson Reuters I/B/E/S.

Shares of the North Andover, Massachusetts-based company
closed at $35.61 on Tuesday on the New York Stock Exchange.
They have gained 13 percent in value in the last two months.
(Reporting by Divya Sharma in Bangalore; Editing by Maju
Samuel)

UPDATE 1-Watts Water Technologies Q3 adj profit beats estimates