8/19/2011 1:58:00 PM
NEWS BRIEFS
ITW Transportation Revenue Jumps
ITW reported total operating revenue increased 17% for the three months ended July 31, 2011. Organic or base revenues contributed 6% to total revenue growth, while acquisitions and currency translation added 4% and 7%, respectively, to total revenues.
Revenue from the company’s Transportation segment, including fasteners, rose 22% during the three-month period.
“A number of worldwide end markets exhibited moderating growth as the three month period progressed,” the company stated.
ITW is forecasting 2011 third quarter diluted income per share from continuing operations to be in a range of $0.95 to $1.03. The midpoint of this earnings range represents 24% growth versus the third quarter of 2010. The third quarter forecast assumes a total revenue growth range of 15% to 18%.
For the 2011 full year, ITW 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% to 18%. ©2011 GlobalFastenerNews.com
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