United Technologies Corp., parent of Pratt & Whitney Canada, Wednesday posted a 6.3-per-cent decline in fourth-quarter earnings because of restructuring costs and lower civil aerospace revenues. But improvement is expected in 2010 from lower costs and rising revenue from emerging markets.
Earnings were $1.07 billion U.S., or $1.15 a share, down from $1.15 billion or $1.23 a share a year earlier, on sales of $14.1 billion, down 4.5 per cent. Exchange gains added 4 cents a share in the latest period. But restructuring costs totalled 8 cents a share.
UTC, which makes Otis elevators, Sikorsky helicopters, Carrier air-conditioning equipment and a range of high-tech aerospace components, cut 15,000 jobs system-wide last year in response to the global recession and drastic fall in air travel.
UTCF chairman Louis Chenevert forecasts that per-share earnings will rise at least 7.3 per cent in 2010.
Source : http://www.montrealgazette.com/business/United+Technologies+declines+cent/2490181/story.html
Earnings were $1.07 billion U.S., or $1.15 a share, down from $1.15 billion or $1.23 a share a year earlier, on sales of $14.1 billion, down 4.5 per cent. Exchange gains added 4 cents a share in the latest period. But restructuring costs totalled 8 cents a share.
UTC, which makes Otis elevators, Sikorsky helicopters, Carrier air-conditioning equipment and a range of high-tech aerospace components, cut 15,000 jobs system-wide last year in response to the global recession and drastic fall in air travel.
UTCF chairman Louis Chenevert forecasts that per-share earnings will rise at least 7.3 per cent in 2010.
Source : http://www.montrealgazette.com/business/United+Technologies+declines+cent/2490181/story.html
No comments:
Post a Comment