The Wall Street Journal-20080126-Earnings Digest- Honeywell Sees Strong 2008 Results After Posting 18- Jump in Earnings

来自我不喜欢考试-知识库
跳转到: 导航, 搜索

Return to: The_Wall_Street_Journal-20080126

Earnings Digest: Honeywell Sees Strong 2008 Results After Posting 18% Jump in Earnings

Full Text (224  words)

Honeywell International Inc.'s fourth-quarter profit climbed 18% as the conglomerate reiterated that it expects strong results in 2008, though it cautioned that the economy could soften.

Chief Executive Dave Cote said Honeywell hasn't seen evidence of a broad slowdown yet, but he said it is planning conservatively nonetheless. "So far, all we do is read about the possibility of [a recession], but we don't really see it," he said.

Mr. Cote said he is confident that the Morris Township, N.J., aerospace-and-technology conglomerate will perform well this year. Honeywell projected first-quarter earnings of 80 cents to 83 cents a share. The mean forecast by analysts surveyed by Thomson Financial was for 80 cents a share.

Even if the economy slows by more than anticipated, company executives said lower pension expenses this year should help make up the difference.

Oppenheimer & Co. analyst Christopher Glynn said the strength of the company's 12% revenue growth in the fourth quarter was something of a surprise, adding that it bodes well for 2008.

Product sales rose 13%, while service sales grew 10.3%. Sales in automation and control services and products increased 13%, while profits climbed 10%. The unit serves the commercial-construction market.

Honeywell's aerospace unit saw revenue rise 11%, while transportation-systems sales increased 11%. Sales in Honeywell's specialty-materials division climbed 14%.

---

Andrew Edwards contributed to this article.

---

个人工具
名字空间

变换
操作
导航
工具
推荐网站
工具箱