GLENVIEW, IL -- Illinois Tool Works today reported operating revenue fell 21% for the three months ended Feb. 28. The drop included a 20% fall in base revenues and a 7% fall in contributions from currency translation, partially offset by a 7% increase from acquisitions in the period.

All geographic regions saw declines, the company said.

The Power Systems and Electronics group was down 26.9% for the quarter.

In a press statement, ITW said January and February saw "significantly weaker demand across worldwide end-markets versus its original expectations," and the company "expects similar trends" in March. The firm lowered its first quarter outlook to a drop in sales of 22 to 26%. ITW previously guided for a revenue drop of 11 to 17%.

ITW owns Speedline Technologies, Chemtronics, Kester Solder and several other electronics companies.

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