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Rockwell Automation cuts forecast as dollar strengthens

(Reuters) - Rockwell Automation Inc, which makes automation systems that help factories run smoothly, lowered its 2015 revenue and profit forecast, anticipating the impact of a stronger dollar and lower oil prices.

Rockwell, which received almost half of its revenue from outside the United States in the previous financial year, cut its full-year revenue forecast to $6.6 billion (4 billion pounds) from $6.8 billion.

The company cut its adjusted earnings forecast to $6.50-$6.80 per share from $6.55-$6.95.

Analysts on average were expecting a profit of $6.64 per share on revenue of $6.73 billion, according to Thomson Reuters I/B/E/S.

The U.S. dollar, which has surged about 20 percent against its major trading partners since early May, pared Rockwell's sales by 3.4 percent for the first quarter ended Dec. 31.

Sales in the company's larger control products business, which makes motor starters, push buttons and condition sensors, fell 3.3 percent.

Revenue fell 1 percent to $1.57 billion. Cost of sales fell 4.4 percent to $886.9 million.

Net income from continuing operation rose to $214.2 million, or $1.56 per share, from $198.1 million, or $1.41 per share, a year earlier.

On an adjusted basis, Rockwell earned $1.64 per share.

Analysts had expected earnings of $1.49 per share on revenue $1.56 billion.

The company's shares closed at $107.24 on the New York Stock Exchange on Tuesday. The stock has fallen about 7 percent in the past 12 months to Tuesday's close, compared with an about 13 percent rise in the S&P 500 index.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Don Sebastian)