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Written by Mike Buetow
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Thursday, 18 February 2010 14:36 |
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ITASCA, IL – Illinois Tool Works reported mixed results for its January quarter, as total operating revenue increased 5% year-over-year, but organic revenues were down 2%.
The growth in revenue was due to acquisitions and currency translation, which contributed 1% and 6%, respectively.
ITW is the parent company of Kester Solder, Speedline Technologies, Vitronics-Soltec and other electronics assembly suppliers.
For the period ended Jan. 31, base revenues were up sequentially on greater demand in the North American automotive sector.
Operating revenues were $3.76 billion, with base revenues down 10.9% in North America and 9% internationally.
ITW said most end-markets have stabilized and expects a modest expansion in a variety of worldwide end markets in 2010, with fiscal first-quarter total revenue growth of 14% to 18%. The company forecasts fiscal year growth of 10% to 14%.
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