ITW Reports 15.6 Percent Growth in Operating Revenues for Three Months Ended Oct. 31
GLENVIEW, IL — Illinois Tool Works Inc. (ITW) has reported an operating revenue increase of 15.6 percent for the three months ended Oct. 31. The company said total revenue growth was in line with company expectations. Operating revenues for the three month period consisted of a 9.9 percent increase from acquisitions net of divestitures, 2.2
ArvinMeritor Reports Fiscal Year 2007 and Fourth-Quarter Results
ArvinMeritor has reported financial results for its full fiscal year and fourth quarter ended Sept. 30. For the fourth quarter of fiscal year 2007, ArvinMeritor posted sales of $1.6 billion, flat over the same period last year. Sales reflect the continued downturn in Class 8 North American truck sales offset by stronger volumes in other regions. Operating income in the fourth quarter of 2007, before special items, was $8 million, compared to operating income, before special items, of $56 million in the prior year’s fourth quarter.
ITW Revenues Increased 16 Percent in the Third Quarter
Illinois Tool Works Inc. (ITW) has reported 14 percent growth in diluted net income per share in the 2007 third quarter. Diluted net income per share was 89 cents versus 78 cents in the 2006 third quarter. Additionally, the company’s third quarter net income increased 10 percent. The double-digit growth in third quarter earnings per share was in part due to ongoing strength from a broad variety of international end markets tempered by weaker North American end market activity.
ITW Reports 15.9 Percent Growth in Operating Revenues for Three Months
Illinois Tool Works Inc. (ITW) has reported an operating revenue increase of 15.9 percent for the three months ended Aug. 31. Total revenue growth was in line with company expectations. Operating revenues for the three month period consisted of a 10.4 percent increase from acquisitions net of divestitures, 2.5 percent growth from base revenues and a 3 percent contribution from translation and other items.
ArvinMeritor Reports Third-Quarter Results
ArvinMeritor, Inc. has reported financial results for its third quarter ended June 30. Sales from continuing operations was $1.7 billion, 4 percent lower than the same period last year. "As we continue to work our way through a challenging operating environment, we are making solid progress in implementing our strategic initiatives," said Chairman, CEO and President Chip McClure. "As a result of the restructuring activities underway at ArvinMeritor and a focus on improving our operational performance, our CVS business maintained respectable margins despite the decline in the North American heavy truck market and we saw continued margin improvement in our LVS business."
ITW Reports Diluted Net Income Per Share of 90 Cents in the 2007 Second Quarter
Illinois Tool Works Inc. (ITW) has reported 11 percent growth in diluted net income per share in the 2007 second quarter. Diluted net income per share was 90 cents versus 81 cents in the 2006 second quarter. In addition, the company’s second quarter net income increased 9 percent.
ITW Reports 15 Percent Growth in Operating Revenues
GLENVIEW, IL — Illinois Tool Works Inc. (ITW) has reported an operating revenue increase of 15 percent for the three months ended May 31. Operating revenues for the three month period consisted of a 10 percent increase from acquisitions net of divestitures, 1 percent growth from base revenues and a 4 percent contribution from translation.
Proliance Appoints New Executive Vice President and CFO
NEW HAVEN, CT — Proliance International has announced that Arlen Henock will join the company as its new executive vice president and chief financial officer (CFO), effective immediately. Henock will succeed Richard Wisot, who will retain the positions of vice president, secretary and treasurer. Henock brings with him a wealth of public company financial accounting
ITW Reports 15 Percent Growth in Operating Revenues
Illinois Tool Works (ITW) has reported an operating revenue increase of 15 percent for the three months ended April 30. The company said total revenue growth was in line with expectations. Operating revenues for the three month period consisted of a 10 percent increase from acquisitions net of divestitures, 2 percent growth from base revenues and a 3 percent contribution from translation and other items.
Visteon Announces First Quarter 2007 Results
Visteon Corp. has announced results for first quarter 2007. For first quarter 2007, Visteon reported a net loss of $153 million, or $1.19 per share, on total sales of $2.93 billion. The first quarter results included $50 million of non-cash asset impairments. EBIT-R, as defined below, for first quarter 2007 was negative $46 million.