Illinois Tool Works 2Q revenue rises

GLENVIEW — Illinois Tool Works Inc., an industrial tool and product maker, said Wednesday that its operating revenue rose 18 percent during the second quarter, helped by acquisitions and growth at existing businesses.

Welding, industrial packaging, automotive, original equipment manufacturing and measurement all showed strength, ITW said.

The company, based in Glenview, Ill., did not provide specific revenue figures but it reaffirmed its outlook for earnings and revenue.

For the second quarter, ITW continues to expect expects net income of 99 cents to $1.05 per share. Total revenue is expected to rise 17 percent to 20 percent, implying revenue of $4.77 billion to $4.89 billion. Analysts expect net income $1.04 per share on revenue of $4.77 billion, according to FactSet.

For fiscal 2011, the company reiterated that it expects earnings between $4.16 and $4.34 per share, or $3.83 to $4.01 excluding a one-time gain tied to the settlement of an Australian tax case. It continues to expect revenue will rise 16 percent to 18 percent, implying revenue of $18.41 billion to $18.73 billion. Analysts predict earnings of $3.97 per share, excluding one-time items, on revenue of $18.49 billion.