July 21, 2011 / 11:19 AM / in 6 years

UPDATE 1-Hubbell Q2 beats Wall Street, ups FY rev growth outlook

* Q2 EPS $1.07 v est $1.05

* Sales $709.2 mln vs est $682.9 mln

* Raises 2011 sales growth view to 7-9 pct from 5-7 pct (Follows Alerts)

July 21 (Reuters) - Electrical and electronics products maker Hubbell Inc HUBb.N HUBa.N posted better-than-expected quarterly results, helped by higher demand for industrial products, and raised its 2011 sales growth forecast.

The company, which makes products such as lighting fixtures, wire and cable, insulators and measurement equipment, said it now expects 2011 sales to grow 7-9 percent, up from its previous forecast of a 5-7 percent growth.

Hubbell, which caters to industrial, utility applications, residential and non-residential construction, sees the non-residential construction market to decline but expects higher demand for renovation, relight and controls to offset that.

Second-quarter net income was $65.2 million, or $1.07 a share, up from $57.6 million, or 95 cents a share, a year ago. Revenue rose 10 percent to $709.2 million.

Analysts, on average, expected earnings of $1.05 per share on revenue of $682.9 million, according to Thomson Reuters I/B/E/S.

Earlier on Thursday, competitor Thomas & Betts Corp posted better-than-expected quarterly results, driven by strong demand from industrial and utility market.

Shares of Orange, Connecticut-based Hubbell closed at $64.19 on the New York Stock Exchange on Wednesday. (Reporting by Sharanya Hrishikesh in Bangalore; Editing by Joyjeet Das)

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