Total revenues decreased by 10 percent for Q4 2009 compared to Q4 2008.
SWORDS, Ireland — Ingersoll-Rand plc (NYSE:IR), today announced that total reported revenues decreased by 10 percent for the fourth quarter of 2009, compared with the 2008 fourth quarter, and adjusted earnings per share (EPS) from continuing operations were in the mid-range of prior guidance.
The company reported net earnings of $139.4 million, or EPS of $0.42, for the fourth quarter of 2009. Fourth-quarter net income included $124.7 million, or EPS of $0.37, from continuing operations, as well as $14.7 million of income, equal to EPS of $0.05, from discontinued operations.
Fourth-quarter 2009 EPS from continuing operations, excluding approximately $50 million of pre-tax restructuring costs, was $0.48. This compares to a net loss of $3,290 million, or EPS of ($10.27), for the fourth quarter of 2008.
The fourth-quarter 2008 net loss included $3,275 million, or EPS of ($10.22), from continuing operations, as well as ($15.0) million of expense, or EPS of ($0.05), from discontinued operations. Fourth-quarter 2008 continuing earnings include a non-cash impairment charge for goodwill and intangible assets, one-time acquisition costs and restructuring costs which totaled EPS of ($10.75). Excluding these items, fourth-quarter earnings from continuing operations were $0.53 per share.