7/14/2009
HEADLINES
STOCKS: ITW Sales “Stabilize” with Double-Digit Revenue Declines

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

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.

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

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