GLENVIEW, IL -- Illinois Tool Works' Power Systems and Electronics business unit reported revenues climbed 16.5% year-over-year in the February quarter.

Overall, the conglomerate reported operating revenue rose 11% to $4 billion for its fiscal 2010 fourth quarter ended Feb. 28. Of that total, base revenues made up 9 percentage points and acquisitions added three percentage points, partially offset by a one point drop due to currency translation. Net income was $335.7 million, bringing the year's total to $1.5 billion. The fiscal 2010 revenue was $15.9 billion, a company record.

In a statement, the firm said a "number" of worldwide end-markets show "strong demand levels," including electronics.

ITW is the parent company to leading printed circuit board assembly process equipment OEMs Speedline Technologies, Vitronics, and solder supplier Kester, among others.

The company forecast 2011 first quarter revenue growth of 12% to 15%, and full-year 2011 revenue growth of 11.5% to 14%.



ILLINOIS TOOL WORKS INC. and SUBSIDIARIES


2010 PRO FORMA STATEMENT OF INCOME RESTATED FOR THE INTERNATIONAL REPORTING LAG


(UNAUDITED)


(In thousands except per share amounts)










1Q 2010


2Q 2010


3Q 2010


4Q 2010


YTD


Operating Revenues

$

3,737,601

$

4,041,401

$

4,057,312

$

$4,012,083

$

15,848,397


Cost of revenues


2,389,204


2,578,900


2,615,518


2,664,119


10,247,741


Selling, administrative, and R&D expenses


753,922


766,481


748,687


799,542


3,068,632


Amortization and impairment of












goodwill and other intangible assets


52,934


53,303


53,523


54,240


214,000


Operating Income


541,541


642,717


639,584


494,182


2,318,024


Interest expense


(44,373)


(43,316)


(43,503)


(44,131)


(175,323)


Other income


4,637


3,055


20,947


2,412


31,051


Income from Continuing Operations












Before Income Taxes


501,805


602,456


617,028


452,463


2,173,752


Income taxes


168,000


191,000


195,000


116,800


670,800


Net Income

$

333,805

$

411,456

$

422,028

$

335,663

$

1,502,952






































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