GLENVIEW, IL -- Illinois Tool Works is narrowing its 2005 fourth quarter estimated earnings range to $1.36 to $1.40 for net income per diluted share after posting a 6 percent increase in its North American base revenues for the three month period ending Nov. 30. The midpoint of the new range was one cent higher than the previous forecast.
The North American base revenue increase is primarily due to strong end-market demand for the company's longer-cycle specialty systems products. International base revenues increased two percent mainly as a result of ongoing weakness in European end markets.
For full-year 2005, the company's earnings is now expected to be in a range of $5.14 to $5.18 for net income per diluted share. The company also experienced an operating revenue increase of nine percent for the three months ending Nov. 30. Operating revenues for the three month period consisted of 5 percent growth from base revenues and a 4 percent increase from acquisitions. The revenue contribution from currency translation was flat in the period.
_______________________________________
Click here to view the rest of today's headlines.