DAVIDSON, N.C. (AP) _ Ingersoll Rand Inc. (IR) on Monday reported third-quarter profit of $29.5 million.

On a per-share basis, the Davidson, North Carolina-based company said it had net income of 7 cents. Earnings, adjusted for amortization costs and asset impairment costs, were 40 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The maker of flow control and compression equipment posted revenue of $1.34 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.27 billion.

Ingersoll shares have dropped roughly 2% since the beginning of the year, while the Standard & Poor's 500 index has increased 2.5%. In the final minutes of trading on Monday, shares hit $35.97, a climb of 13% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IR at https://www.zacks.com/ap/IR

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