ITT Reports Strong Third Quarter 2009 Operating Results
Monday, November 02, 2009
ITT Corp.
reported third quarter 2009 net income from continuing operations of $66
million, or $0.36 per share. When adjusted to exclude special items, income
from continuing operations for the quarter was $190 million, or $1.03 per
share, exceeding the previous guidance mid-point by $0.18. The Company raised
its adjusted full-year earnings forecast to $3.70 to $3.74 per share, excluding
special items.
Third
quarter 2009 revenue for the Fluid Technology segment was $826 million, down 13
percent year-over-year and 10 percent organically. Results outperformed
expectations, despite challenged industrial, municipal and residential market
conditions. Segment operating performance was strong due to the impact of cost
measures earlier in the year. More…
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