GLENVIEW, IL -- Illinois Tool Works today reported fiscal second-quarter operating revenues fell 21% year-over-year as its Power Systems and Electronics unit took a 36.9% hit.

For the period ended Aug. 31, the conglomerate saw a 19% drop in base revenues and a 7% decline in contributions from currency translation. Acquisitions added 5% to revenues in the period. Base revenues improved modestly sequentially on improvements in automotive and construction.

ITW raised its fiscal third-quarter earnings forecast, saying it expects revenues to rise 3 to 6% sequentially.

ITW is the parent company of Speedline Technologies, Kester, Chemtronic, Simco and other electronics manufacturing suppliers.

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