ITW Reports 11.4 Percent Growth in Operating Revenues
Illinois Tool Works (ITW) has reported an operating revenue increase of 11.4 percent for the three months ended July 31. The company said this double-digit increase in revenue growth for the three months was due to contributions from translation, acquisitions and base revenues. Looking ahead, the company is forecasting a third quarter 2008 diluted income per share from continuing operations of 93 cents to 99 cents. The 2008 third quarter forecast assumes a total company revenue growth range of 10 percent to 14 percent. The company is forecasting full year 2008 diluted income per share from continuing operations range of $3.40 to $3.52.
ITW to Divest Decorative Surfaces and Click Commerce Businesses
Illinois Tool Works (ITW) announced that its board of directors has authorized a plan to begin the divestiture process for several businesses including the Decorative Surfaces segment — consisting of the Wilsonart and related laminate businesses — and the Click Commerce industrial software business. ITW has retained Goldman Sachs to advise on the divestiture process for the Decorative Surfaces units.
ITW Reports 10.5 Percent Growth in Second Quarter Revenues
Illinois Tool Works (ITW) has reported 17 percent growth in 2008 second quarter diluted income per share from continuing operations. In addition, the company’s revenues grew 10.5 percent, operating income increased 8.8 percent and income from continuing operations rose 10 percent in the most recent quarter. The double-digit operating revenue increase in the quarter consisted of a 4.3 percent contribution from acquisitions and a 6.4 percent contribution from currency translation.
ITW Reports 11.2 Percent Growth in First Quarter Operating Revenues
GLENVIEW, Ill. — Illinois Tool Works (ITW) has reported an operating revenue increase of 11.2 percent for the three months ended May 31. Growth in revenues was largely due to contributions from translation and acquisitions. Base revenues also contributed to growth in the three-month period. Revenues for the first two months of the second quarter
ITW Reports 11.5 Percent Growth in Operating Revenues
Illinois Tool Works Inc. (ITW) has reported an operating revenue increase of 11.5 percent for the three months ended April 30. Growth in revenues was largely due to contributions from translation and acquisitions. Base revenues also contributed to growth in the three month period. Revenues for the first month of the second quarter were modestly ahead of company expectations.
ITW Reports 11.4 Percent Revenue Increase for First Quarter 2008
Illinois Tool Works Inc. (ITW) has reported 11.4 percent growth in 2008 first quarter revenues and a 16.2 percent decline in diluted income per share from continuing operations. The company said the earnings decline was directly attributable to impairment and European tax charges previously announced on March 17. These two charges, which had a pretax impact of $129 million or 22 cents per share after tax in the first quarter, reduced diluted income per share from continuing operations to 57 cents in the quarter. Absent these charges, the company’s income from continuing operations would have been at 79 cents per share, or a 16 percent increase versus the prior year period.
ITW Reports 13.8 Percent Growth in Operating Revenues
Illinois Tool Works (ITW) has reported an operating revenue increase of 13.8 percent for the three months ended Feb. 29. The company said growth in revenues was primarily due to contributions from acquisitions and translation. Base revenues also contributed to growth in the period. For the first two months of the quarter, total revenues exceeded company expectations.
ITW Reports 15.8 Percent Growth in Operating Revenues
Illinois Tool Works Inc. reported an operating revenue increase of 15.8 percent for the three months ended Jan. 31. The company said growth in revenues was primarily due to contributions from acquisitions and translation. Total revenues were in line with company expectations.
ITW Permatex Acquires Spray Nine Corporation
ITW Permatex has acquired Spray Nine Corporation, a privately owned manufacturer of specialty cleaning products. Headquartered in Johnstown, NY, Spray Nine has been developing and manufacturing a variety of premium cleaning products since 1948, and is credited with introducing the industry’s first “spray-on, wipe-off” disinfectant cleaner. Andy Robinson, currently vice president of Manufacturing and Operations at Permatex, will head up Spray Nine Corp., as its general manager.
ITW Reports Increased Revenues for the Fourth Quarter of 2007
Illinois Tool Works Inc. (ITW) reported 19 percent growth in diluted income per share from continuing operations in the 2007 fourth quarter. Diluted income per share from continuing operations was 87 cents versus 73 cents in the 2006 fourth quarter. Revenues increased 19 percent and operating income grew 14 percent in the most recent quarter. As previously announced, certain divested businesses and businesses currently being held for sale which collectively reached a more significant level are now being reported as discontinued operations.