Posted on Friday, July 22nd, 2011 at 4:34 pm.
Honeywell International Inc. reported a higher quarterly profit than predicted and raised its 2011 outlook.
The company’s shared fell 0.9 percent in pre-market trade to $57.66. Honeywell is the world’s largest maker of cockpit electronics, on Friday reported net income of $810 million, or $1.02 per share, up 43.1 percent from $566 million, or 73 cents per share, a year earlier. The company earned $1.00 per share for continuing operations, topping the 98 cents expected on average by analysts.
Honeywell, which also makes systems to manage the temperature and security of large buildings, said sales were $9.3 billion after adding in $234 million from its discontinued consumer products group. The New Jersey-based company forecast full-year sales of $36.1 billion to $36.7 billion, up 12 percent to 14 percent from last year. It also raised its 2011 earnings outlook, including discontinued operations, to $3.85 to $4.00 per share from its prior estimate of $3.80 to $3.95 a share.
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