United Technologies 1Q profit jumps 26 percent

HARTFORD, Conn. -- United Technologies says first-quarter earnings rose 26 percent as the weak dollar boosted profits throughout the business.

The Hartford, Conn., industrial conglomerate says it earned $1 billion, or $1.03 per share, in the quarter, up from $819 million, or 82 cents per share a year earlier. The result is better than the $1.01 per share expected by analysts in a Thomson Financial poll.

Revenue is 12 percent higher at $13.7 billion and is more than Wall Street's estimate for $13.4 billion.

Chief Executive Louis Chenevert says he is "confident" with the company's 2008 financial targets.

United Technologies makes Otis elevators, Sikorsky helicopters, Pratt and Whitney airplane engines and Carrier air conditioners.