Posted January 27, 2010
ITW revenues fall 5 percent
Illinois Tool Works Inc. reported 2009 fourth quarter diluted income per share of 98 cents, a 66 percent increase compared to the 2008 fourth quarter.
Operating revenues of $3.757 billion were 5.0 percent lower than the year-ago period. However, fourth quarter operating revenues were 5.0 percent higher than the 2009 third quarter mainly due to an increase in automotive OEM builds, a modest improvement in worldwide end markets and the positive impact of currency translation. The company's base revenues declined 10.0 percent in the 2009 fourth quarter versus the year-ago period, with North American base revenues declining 10.9 percent and international base revenues decreasing 9.0 percent.
Full-year 2009 operating revenues of $13.877 billion were 18.8 percent lower than 2008. Base revenues fell 18.4 percent for the full year, with North American base revenues decreasing 21.6 percent and international base revenues declining 14.9 percent.
