6/16/2009
NEWS BRIEFS
ITW Sales “Stabilize” with Double-Digit Declines

Illinois Tool Works reported sales in its Transportation segment, including automotive fasteners, declined 22.9% in the three-month period ended May 31, while Construction Products sales, including fasteners, dropped 36.6% during the period.

Overall ITW revenue dipped 26% “due to a 23% decrease in base revenues and a 9% decline in contributions from currency translation.” Acquisitions contributed 6% to revenue during the three-month period.

“The company’s base revenues continue to stabilize as core revenues have been in a range of -21% to -25% for the past five months,” ITW stated.

ITW shares have increased 33% this year, making investors wary of the industrial company’s prospects for continued gains in the coming months. ©2009 GlobalFastenerNews.com

Related Links:

• Illinois Tool Works