(Reuters) - Honeywell International Inc
The maker of cockpit electronics and systems to manage the climate and security of large buildings said on Friday that earnings came to $251 million, or 32 cents per share. For the year-earlier period, the company booked a loss of $310 million, or 40 cents per share.
Factoring out accounting items related to the company's pension plan, the profit was $1.10 per share, topping the analysts' average forecast of $1.09, according to Thomson Reuters I/B/E/S.
Overall profit margins rose to 15.6 percent of sales from 15.1 percent a year earlier as Chief Executive Officer Dave Cote has been pushing to boost productivity across the company's four divisions, including consolidating businesses into fewer locations.
Revenue rose 1 percent to $9.58 billion from $9.47 billion a year earlier.
The company's performance materials unit, whose products include chemicals and equipment used in oil and gas production, notched the strongest sales growth in the quarter, up 8 percent. At the transportation systems unit, which makes products that include automobile turbochargers, sales fell 11 percent, reflecting weak European demand.
The Morris Township, New Jersey-based company confirmed its full-year profit forecast of $4.75 to $4.95 per share and said it expected earnings to rise 6 percent to 11 percent in the first quarter.
Honeywell shares have risen about 18.5 percent over the past year, outpacing the 13.6 percent rise of the broad Standard & Poor's 500 index <.spx>.
(Reporting by Scott Malone; Editing by Lisa Von Ahn)
Source: http://news.yahoo.com/honeywell-profit-tops-wall-street-view-margin-boost-123336205--finance.html
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