Monday, February 16, 2009

ITW - Operating Revenue Falls 15% but Reaffirms Guidance

ITW said Monday, its base revenues slid 16 percent on weakness in North America, Europe and Asia. The company posted a 6 percent decrease in contributions from currency translation. Acquisitions helped revenue by 7 percent in the period.

ITW did reaffirmed its first-quarter and full-year 2009 guidance. For the full year, ITW anticipates earnings in a range of $1.84 to $2.48 per share. The guidance assumes a sales decline of 6 percent to 12 percent.

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