Posted January 25, 2010
Eaton reports income gain
Diversified industrial manufacturer Eaton Corporation announced net income per share of $1.25 for the fourth quarter of 2009, an increase of 28 percent over 98 cents in the fourth quarter of 2008.
Sales in the quarter were $3.1 billion, 10 percent below the same period in 2008. Net income was $211 million compared to $163 million in 2008, an increase of 29 percent.
For the full year 2009, sales were $11.9 billion, 23 percent less than 2008. Net income was $383 million, a decrease of 64 percent over 2008, and net income per share of $2.27 was 65 percent less than in 2008.
"We estimate our markets for all of 2010 will grow 5 percent, and we expect to outgrow our end markets in 2010 by approximately $300 million," said Alexander M. Cutler, chairman and CEO.
