5/16/2011 7:42:00 PM
HEADLINES
ITW
reported revenues for the Transportation segment, including fasteners, grew 23.6% in the first quarter of 2011, “largely due to ongoing strength in automotive OEM car builds as well as new product penetration.”
While worldwide automotive OEM organic revenues grew 15.7% in the first quarter, North American and European car builds increased 11% versus the year-ago period. Segment operating margins of 15.9% improved 80 basis points.
Overall Q1 revenues grew 17.4% to $4.4 billion.
Q1 operating income of $682.6 million increased 26% and net income grew 86% to $623.1 million.
Consolidated revenue gained 14.4% to $15.9 billion in 2010, while operating income jumped 70% to $2.35 billion.
Transportation segment revenue rose 22% to $2.52 billion, while construction revenue improved 14.7% to $1.75 billion.
Founded in 1923, manufactures fasteners and industrial components and specialty products primarily for the auto, food and construction industries. Brand names include Fastex, Ramset/Red Head and Shakeproof.
Corporate Office: 3600 W. Lake Ave., Glenview, IL 60025-5811. Tel: 847 724-7500 Web: itw.com
CEO: David Speer
Employees: 61,000
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