8/18/2009
NEWS BRIEFS
ITW Fastener Segments See Modest Sales Gain

Despite improved demand, Illinois Tool Works reported over revenue fell 24% during the three months ended July 31.

Transportation revenue, including fasteners, dipped 16.4% during the period, while Construction products, including fasteners, dropped 31.9%.

“For the most recent three month period, base revenues modestly improved versus the 2009 second quarter largely as a result of improving end market activity for businesses in the transportation, polymers & fluids and construction segments,” the company stated.

During the second quarter of 2009, Transportation sales declined 20% to $502.3 million, while segment operating income slipped 75% to $24.3 million.

Q2 Construction sales, including fasteners, dropped 34% to $370.7 million during Q2, while segment operating income fell 72% to $21.7 million. ©2009 GlobalFastenerNews.com

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