Fri, Jan 23, 2009
Parent Of Sikorsky, Pratt & Whitney, Rocketdyne
Times are tough, but there are some companies still doing OK.
United Technologies Corporation released its 2008 fourth quarter
numbers this week, and they're not shabby at all, especially in a
The parent company of aircraft names like Pratt & Whitney,
Rocketdyne, Sikorsky and Schweitzer, Carrier HVAC systems and Otis
elevators, reported fourth quarter earnings per share of $1.23, up
14 percent, and net income of $1.1 billion, up 8 percent compared
to 2007's fourth quarter.
Quarterly revenues were $14.5 billion. That's down 1 percent
from the previous year, blamed by the company on adverse foreign
CEO Louis Chênevert explained the strong performance.
"Balance works at UTC," he said. "While Carrier saw organic revenue
decline 7 percent in the quarter, all other units reported organic
growth with Sikorsky at an exceptional 25 percent.
"We remain confident that UTC's strong global franchises and
experienced management team will continue to outperform even in
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