ITW reports 5% sales growth
ITW reported a total company operating revenue increase of 5 percent for its most recent quarter compared to the same period last year.
Acquisitions contributed 1 percent and currency translation contributed 6 percent to the gain.
However, base revenues declined 2 percent in the three-month period. The base revenue decrease of 2 percent in the most recent period improved versus the 2009 fourth quarter when base revenue fell 10 percent on a year-over-year basis. The sequential base revenue improvement was largely due to easier January comparisons and the substantial improvement in the North American automotive OEM end market.
According to a prepared statement, ITW believes most end markets have stabilized and anticipates modest expansion in a variety of worldwide end markets in 2010. The company anticipates revenue growth of between 14 percent to 18 percent in the first quarter 2010 and 10 percent to 14 percent growth for the year.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
