ITW revenue grows 16 percent

PRNewswire

GLENVIEW — Illinois Tool Works Inc. said operating revenue grew by 16 percent for the three month period that ended in August 31, over the same period last year.

Base revenues amounted to 6 percent of total revenue growth in the three month period, the company said in a statement. In addition, acquisitions and currency translation added 4 percent and 6 percent, respectively, to total revenues. Worldwide end markets exhibited generally stable growth trends for the three month period.

By segment, ITW saw its largest gains in the polymers and fluids, transportation, and industrial packaging and power systems and electronics areas. Polymers and fluids increased 32 percent over the same periods in 2011, while transportation was up 24 present and industrial packaging rose 17 percent> Other segment performances include power systems and electronics, up 16 percent; construction products, up 14 percent; decorative surfaces, up 13 percent, food equipment, up 7 percent. All other segments increased 11 percent.

ITW is forecasting 2011 third quarter diluted income per share from continuing operations to be in a range of 95 cents to $1.03, assuming a total revenue growth range of 15 percent to 18 percent.