ITW Posts Q3 Income Up 20.3% YoY
GLENVIEW, IL – Illinois Tool Works today reported third-quarter revenues of $4.6 billion, up 16.2% year-over-year.
Net income was $507.6 million, up 20.3% compared to the third quarter of 2010.
Total revenues for the power systems and electronics segment increased 21.2% to $750.5 million. Organic revenues for the total electronics businesses increased 1.7%, with the company’s printed circuit board equipment businesses growing organic revenues 9.1%, as consumer electronics demand remained solid. Operating income for the power systems and electronics segment in the third quarter was $147.8 million, up 15.5% year-over-year.
The company guided for fiscal fourth-quarter revenue growth of 9.5% to 12.5%. For the full year, the company is forecasting revenue growth of 15.1% to 15.9%.
ITW is the parent of Speedline, Vitronics-Soltec and Kester Solder.
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