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ITW Reports Total Operating Revenue Growth of 16 Percent for Three Months Ended Aug. 31

Company says organic revenues grew 6 percent in the three month period.

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GLENVIEW, Ill. — Illinois Tool Works Inc. (ITW) has reported a total operating revenue increase of 16 percent for the three months ended Aug. 31, compared to the year-ago period. Organic or base revenues contributed 6 percent to total revenue growth in the three month period. In addition, acquisitions and currency translation added 4 percent and 6 percent, respectively, to total revenues. Worldwide end markets exhibited generally stable growth trends for the three month period.

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The company is forecasting 2011 third quarter diluted income per share from continuing operations to be in a range of 95 cents to $1.03. The third quarter forecast assumes a total revenue growth range of 15 percent to 18 percent.

For the 2011 full year, the company is forecasting diluted income per share from continuing operations to be in a range of $4.05 to $4.21 and assumes a total revenue growth range of 16 percent to 18 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, the midpoint of the full-year earnings would be $3.80 and would represent a 32 percent increase compared to the year-ago period.

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