GLENVIEW, IL -- Illinois Tool Works' second-quarter profit rose 128% from a year ago to $420.8 million on a 20% jump in revenue to $4.08 billion.

The results slightly topped analysts' consensus estimates.

Operating income was $653 million, up $318 million from a year ago. The profit margins rose 610 basis points to 16%.

The company's Power Systems and Electronics unit, which includes Speedline Technologies, Kester Solder, Vitronics-Soltec and other electronics manufacturing suppliers, reported sales rose 24.6% versus a year ago. Base revenue increased 22.6% year-over-year, and operating margins of 21.8% were up 630 basis points from last year and 100 basis points sequentially. It was the second straight strong quarter for the unit.

"This has been a very volatile market," said senior vice president and CFO Ronald Kropp on a conference call with analysts, "tied largely to handheld devices, cellphones, PDAs and also computers, and you are seeing it across the board obviously upward momentum in those categories. On a sustainable basis, these markets are typically operating in the 6% to 8% growth range, so clearly the first two quarters are well outside of that. I would certainly expect these growth rates to begin to dampen as we approach the second half of the year, but nonetheless the consumer electronics rebound has been strong thus far."

For the year, ITW said overall revenue growth would be 11% to 13%.

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