ITW Q3 Income Up 11%
October 15
00:00
2002
ITW Q3 Income Up 11%
John Wolz
Illinois Tool Works Inc. reported that 2002 third quarter income increased 11% over the same period of 2001. Revenue totaled $2.4 billion and net income was 245.5 million.
ITW attributed the increased to improvement in businesses with short-lead time products in the consumer-driven North American and international end markets.
Operating revenue grew 4%.
North American engineered product revenue increased 3% due to automotive and industrial-related end markets. International engineered product revenue jumped 15%.
ITW projected fourth quarter growth will be slower than anticipated earlier this year. ITW forecast base business growth to be 2% in the fourth quarter. Web: itw.com �2002 FastenerNews.com
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