Shares of MSA rose today after the O'Hara-based safety equipment company reported better-than-expected third-quarter earnings.

Net income totalled $17.9 million, or 50 cents per diluted share vs. earnings of $16.7 million, or 46 cents per share in the year-ago quarter, when MSA reported an aftertax gain of $6.5 million on the sale of Cranberry Woods property to Westinghouse. Sales increased 15 percent to $285.9 million vs $247.7 million in the year-ago quarter.

Analysts were expecting profits of 42 cents per share.

"We did not see a drop off in business in the third quarter and our incoming order book in the third quarter also remained healthy," President and Chief Executive Officer William M. Lambert told analysts during a conference call.

Mr. Lambert said that although MSA is not experiencing a slowdown, the company is taking "proactive and prudent steps to control spending." The measures include imposing restrictions on hiring and reviewing staffing levels.

"I don't think it's appropriate at this time to have dramatic cutbacks," he said.

Shortly after 11 a.m., MSA shares were up $1.23 to $25.39. They are down 51 percent this year.