ITW International Revenue Grows
ITW International Revenue Grows
Jason Sandefur
Strong global end markets helped Illinois Tool Works Inc. boost earnings 25% to a record $330.1 million during the third quarter of 2004. ITW posted double digit operating performance and improved operating margins for the third consecutive quarter. Q3 revenues grew 17% to $2.96 billion, while operating income increased 20% to $512.2 million. The timing and impact of price increases for higher raw materials increased revenues, ITW reported.
For the first nine months of 2004, revenues gained 17% to $8.68 billion, while income grew 31% to $980.4 million. “Our strong financial results in the third quarter continue to underscore consistent customer demand in a number of North American and international end markets,” commented CEO James Farrell.
Revenue and income from North American Engineered Products increased 10% during Q3. Nine-month sales for the segment rose 8%, while income jumped 14%.
The International Engineered Products segment saw Q3 revenues grow 34% as a result of growth from the construction, automotive and industrial business units. Segment operating income increased 50%. For the nine-month period, revenues gained 33%, while operating income soared 49%. Web: itw.com �2004 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment