1/29/2014 2:04:00 AM
NEWS BRIEFS
ITW Automotive OEM Segment, Including Fasteners, Sees Double-Digit Gains

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ITW reported its Automotive OEM segment, including fasteners, grew organic revenues 11.2% to $604 million in the fourth quarter, as increasing product penetration with key global customers resulted in revenue growth outperforming worldwide auto builds by 5 percentage points. Operating margins improved 160 basis points to 20.4%. 

Q4 automotive OEM segment totaled $123 million.

Fourth-quarter Construction Products income, including fasteners, rose 1.9% to $422 million, with segment operating income totaling $442 million.

“For full-year 2013, we grew earnings per share 13%, operating margins by 100 basis points to 17.8%, improved after-tax return on invested capital by 180 basis points to 16.3%, and returned $2.9 billion to shareholders in the form of dividends and share repurchases.  

“The company is well positioned to deliver another year of strong progress towards our enterprise strategy performance goals across a range of macro-economic conditions in 2014.”

ITW reported its Automotive OEM segment, including fasteners, grew organic revenues 11.2% to $604 million in the fourth quarter, as increasing product penetration with key global customers resulted in revenue growth outperforming worldwide auto builds by 5 percentage points. Operating margins improved 160 basis points to 20.4%. 

Q4 automotive OEM segment totaled $123 million.

Fourth-quarter Construction Products income, including fasteners, rose 1.9% to $422 million, with segment operating income totaling $442 million.

“For full-year 2013, we grew earnings per share 13%, operating margins by 100 basis points to 17.8%, improved after-tax return on invested capital by 180 basis points to 16.3%, and returned $2.9 billion to shareholders in the form of dividends and share repurchases.  

“The company is well positioned to deliver another year of strong progress towards our enterprise strategy performance goals across a range of macro-economic conditions in 2014.”

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