ELGIN, Ill. (AP) _ The Middleby Corp. (MIDD) on Thursday reported first-quarter net income of $73.8 million.

On a per-share basis, the Elgin, Illinois-based company said it had profit of $1.33. Earnings, adjusted for one-time gains and costs, came to $1.46 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The food preparation equipment company posted revenue of $677.5 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $687.1 million.

Middleby shares have declined 50% since the beginning of the year. The stock has declined 60% 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 MIDD at https://www.zacks.com/ap/MIDD

Automated Insights, source Associated Press News