Press Release
ITW Reports 11.5 Percent Growth in Operating Revenues for Three Months Ended April
30, 2008
Glenview, Illinois – May 15, 2008
Illinois Tool Works Inc. (NYSE:ITW) today reported an operating revenue increase
of 11.5 percent for the three months ended April 30, 2008. Growth in revenues was
largely due to contributions from translation and acquisitions. Base revenues also
contributed to growth in the three month period. Revenues for the first month of
the second quarter were modestly ahead of Company expectations.
(% change for 3 months ended April 30, 2008 versus prior year period)
|
*Industrial Packaging: |
+14.9 % |
|
*Power Systems and Electronics: |
+ 8.9 % |
|
*Transportation: |
+11.5 % |
|
*Construction Products: |
+ 2.7 % |
|
*Food Equipment: |
+25.1 % |
|
*Polymers and Fluids: |
+27.8 % |
|
*Decorative Surfaces: |
+ 3.3 % |
|
*All Other: |
+ 8.6 % |
On a segment basis, the Company's three month moving average percentage change for
operating revenues, comprised of base revenues, acquisitions/divestitures and currency
translation, is provided below.
Looking ahead, the Company is forecasting a second quarter 2008 diluted income per
share from continuing operations of $0.94 to $1.00. The 2008 second quarter forecast
assumes a total company revenue growth range of 9 percent to 12 percent. The Company
is forecasting full-year 2008 diluted income per share from continuing operations
range of $3.35 to $3.49. The full-year forecast assumes a total company revenue
growth range of 8 percent to 12 percent.
The statements regarding the Company's 2008 second quarter and full-year forecasts
are forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are subject to certain risks, uncertainties
and other factors, which could cause actual results to differ materially from those
anticipated. Important factors that could cause actual results to differ materially
from the Company�s expectations are set forth in ITW�s Form 10-Q for the 2008 first
quarter.
With $16.2 billion in revenues, ITW is a diversified and value-added manufacturer
of highly engineered components and industrial systems and consumables. The Company
consists of approximately 825 business units in 52 countries and employs some 60,000
people.
Contact: John Brooklier, 847-657-4104 or jbrooklier@itw.com
