Connect with us

Manufacturing

ITW Reports Total Operating Revenue Growth of 14 Percent for Three-Month Period

Organic revenues increase 7 percent in the three-month period.

Advertisement

GLENVIEW, Ill. – Illinois Tool Works Inc. (ITW) has reported a total operating revenue increase of 14 percent for the three months ended Oct. 31, 2011, compared to the year-ago period. Organic or base revenues contributed 7 percent to total revenue growth in the three-month period.
 
In addition, acquisitions and currency translation added 5 percent and 2 percent, respectively, to total revenues. Some Asia Pacific and European end-markets saw demand moderate in the month of October, ITW says.
 
Consistent with the company’s forecasts issued on Oct. 25, ITW says it expects no contribution from currency translation in the 2011 fourth quarter versus the year-ago period. Additionally, the company anticipates modestly lower European organic revenues and increased restructuring costs in the fourth quarter of 2011.  As a result, the company is forecasting 2011 fourth quarter diluted income per share from continuing operations to be in a range of 86 cents to 94 cents.
 
The fourth quarter forecast assumes a total revenue growth range of 9.5 percent to 12.5 percent.  For the 2011 full-year, the company is forecasting diluted income per share from continuing operations to be in the range of $4.04 to $4.12 and assumes a total revenue growth range of 15.1 percent to 15.9 percent.  
 
The full-year forecast includes the 33 cents per share one-time tax benefit recorded in the 2011 first quarter. Excluding the one-time tax gain in the 2011 first quarter, the midpoint of the full-year earnings range would be $3.75.
 

Advertisement
Click Here to Read More
Advertisement

Advertisement

POPULAR POSTS

Sponsored Content

Why Trucks Are The Future Of The Aftermarket Sweet Spot

Sponsored Content

How to Talk to Customers About Aftermarket Spark Plugs

Sponsored Content

4 Mistakes Even a Pro Can Make When Installing a Water Pump

Sponsored Content

5 Reasons to Upgrade Your Spark Plugs

Connect