CLEVELAND (AP) _ Parker-Hannifin Corp. (PH) on Thursday reported fiscal fourth-quarter profit of $295.7 million.

The Cleveland-based company said it had profit of $2.27 per share. Earnings, adjusted for non-recurring costs, were $2.55 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share.

The maker of motion and control products posted revenue of $3.16 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $2.87 billion.

For the year, the company reported profit of $1.21 billion, or $9.29 per share. Revenue was reported as $13.7 billion.

Parker-Hannifin expects full-year earnings in the range of $9.80 to $10.80 per share.

Parker-Hannifin shares have declined almost 10% since the beginning of the year, while the Standard & Poor's 500 index has risen 3%. The stock has climbed 14% 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 PH at https://www.zacks.com/ap/PH

Automated Insights, source Associated Press News