ITW’s Q3 Revenues Down 1.7% to $4.5B PDF Print E-mail
Written by Chelsey Drysdale   
Tuesday, 23 October 2012 10:57

GLENVIEW, ILIllinois Tool Works reported third quarter revenues of $4.5 billion, down 1.7%.

Organic (base) revenues grew 0.9%, with North American organic revenues increasing 3.9% and international organic revenues declining 2.7%. European and Asia Pacific organic revenues decreased 3.7% and 1.5%, respectively.

Acquisitions net of divestitures added 1.4% to revenues.

Operating income of $763 million increased 6.8% for the quarter.

Total revenues for the Power Systems and Electronics segment increased 4.6%. Segment organic revenues grew 4.5% as a result of contributions from both the electronics and welding businesses. Total organic revenues for electronics grew 10.5% due to strong contributions from the electronics assembly businesses.

ITW is the parent to such printed circuit assembly equipment and materials suppliers as Speedline Technologies, Vitronics Soltec and Kester Solder.

The firm expects international end-markets to continue to be sluggish, and the impact of currency translation will be modestly negative in the fourth quarter.  As a result, ITW now expects full-year total revenue growth to be in a range of 0% to 1%.

 

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