Pentair sees 3Q, 2008 earnings below analysts

The company expects third-quarter earnings in the range of 31 cents to 33 cents per share, or 51 cents to 53 cents per share excluding certain charges.

Analysts polled by Thomson Financial expect, on average, third-quarter earnings of 59 cents per share on revenue of $860.6 million. Analysts typically exclude one-time gains and losses in their estimates.

For 2008, Pentair expects profit in a range of $2.44 to $2.49 per share, or $2.28 to $2.33 excluding items.

For the year, analysts expect profit of $2.35 per share on revenue of $3.48 billion.

"We expect our positive performance to continue in our nonresidential and international water and global technical products' businesses," Randall J. Hogan, chairman and chief executive officer, said in a statement.

Shares closed Monday at $36.86, up about 6 percent so far this year.