| ITW Predicts Modest 2010 for Electronics Sales |
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| Written by Mike Buetow | |||
| Friday, 11 December 2009 12:19 | |||
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GLENVIEW, IL -- ITW today said it expects base revenue to rise 8 to 10% in 2010, with its power systems and electronics sales to lag slightly.
In remarks to analysts today, the conglomerate forecast worldwide base revenues from its power systems and electronics group to rise 3 to 5%. The company is the parent of Speedline Technologies, Vitronics-Soltec, Kester Solder and many other leading electronics suppliers. Last night, it said fourth-quarter sales fell 13%, citing lower demand for electronics equipment. At the same time, ITW raised its quarterly earnings forecast on a large gain from a tax audit settlement in Germany. Base revenues improved sequentially on rising automotive and construction demand, the firm said.
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| Last Updated on Friday, 11 December 2009 12:27 |
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