ITW Posts Revenue Gain

Jason Sandefur

Weak end markets during the second quarter of 2003 caused Illinois Tool Works to post a 3% decline in revenue for its North American Engineered Products, including fasteners. Q2 operating income for the segment fell 14%.
Q2 revenue for International Engineered Products grew 20%, while operating income increased 16% due to favorable currency translation.
For the first six months of 2003, North American Engineered Products revenue decreased 1%, and operating income slipped 13%. First half revenue for International Engineered Products gained 21%, while operating income rose 27%.
Overall Q2 revenue for ITW improved 5% to $2.56 billion, and operating income grew 6% to $454.1 million. First half results include a 5% jump in revenue to $4.88 billion, and 5% boost in operating income to $775.1 million. Web: itw.com �2003 FastenerNews.com