ITW organic revenue up 2.3 percent
Illinois Tool Works reported that fourth quarter revenue of $3.5 billion was down 1.4 percent due to negative foreign currency translation impact.
Excluding the effect of currency translation, organic revenue was up 2.3 percent.
In North America, organic revenue growth of 3 percent was driven by continued strength in welding, food equipment, and automotive OEM. Internationally, European organic revenues increased 1 percent and Asia Pacific grew 2 percent.
Net income of $450 million compared to $408 million in the same period last year. Fourth quarter 2014 earnings per share (EPS) from continuing operations was $1.18, 28 percent higher than the year-ago period.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
