NORTH ANDOVER, Mass. (AP) _ Watts Water Technologies Inc. (WTS) on Monday reported second-quarter net income of $20.2 million.

The North Andover, Massachusetts-based company said it had net income of 59 cents per share. Earnings, adjusted for restructuring costs and asset impairment costs, were 74 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The maker of valves for plumbing, heating and water needs posted revenue of $338.7 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $317 million.

Watts Water shares have decreased 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $85.99, a decrease of roughly 7% in the last 12 months.

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

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