GLENVIEW, IL – Illinois Tool Works reported third-quarter net income slipped 7.5% even on an 11% jump in revenues, the latter spurred by acquisitions and favorable currency translations. Base revenues fell 0.8% on lower volumes partially offset by higher raw material price recovery.

For the quarter ended Sept. 30, net profits were $453.5 million on revenues of $4.148 billion. Operating income was down 1.6% from a year ago, while income from continuing operations fell 4.5% due to higher non-operating costs. North American base revenues declined 2.1% and international base revenues increased a 1.2% in the quarter.

Power Systems and Electronics revenues grew 9.4% in the quarter, with base revenues increasing 3.1%. The unit includes Speedline Technologies, Vitronics and Kester, among others.

Overall, for continuing operations, the company’s operating margins were 15.4%, down 190 basis points from last year.

During the quarter, ITW acquired 14 companies totaling $847 million of annualized revenues, bringing the conglomerate’s total to 40 acquisitions for the year.

ITW guided for fourth-quarter sales growth of 6 to 9%.

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