ITW boosts revenues 19 percent
Construction product sales climb 20.3 percent.
Illinois Tool Works Inc. reported an operating revenue increase of 19% for the three months ended April 30 versus the year-ago period.
Base revenues contributed 12% to revenue growth, while acquisitions and currency translation added 2% and 5%, respectively. The ongoing improvement in base revenue growth was due to increasing demand across a broad set of consumer and industrial end markets in both North America and internationally.
On a segment basis, Transportation had the largest increase (34.0%), followed by Industrial Packaging (25.2%), Polymers and Fluids (23.4%), Power Systems and Electronics (20.8%), Construction Products (20.3%), Decorative Surfaces (4.9%) and Food Equipment (0.7%).
The company continues to forecast second quarter 2010 diluted income per share from continuing operations to be in a range of 74 cents to 86 cents and assumes a second quarter revenue growth forecast range of 15 percent to 19 percent.
