Events Calendar
In This Section
Most Read Stories
Akron judge Linda Kersker dies
DiLullo's closes doors after 63 years
Portage man beaten at home, robbed of coins
Akron police arrest murder suspect within an hour
Call center to cut 250 jobs in Akron
Rib, White and Blue is festival of tastes
Man fit for trial in rape of girl, 2
UPDATE: Deadly motorcycle crash closes I-76
Blogs:
Pets:
Summit teams up with Rescue Waggin' to save dogs
The Heldenfiles:
I Hate "More To Love"
Patrick McManamon:
Ron Artest goes to the Lakers
Akron Zips:
Opponent outlook: Northern Illinois
Browns Bulletin:
Single-game ticket sales begin July 11
Tribe Matters:
Tribe needs to slow down opponents
Cleveland Browns:
Stallworth test showed marijuana
Kent State Sports:
Men's Basketball Scheduling update
Cleveland Cavaliers:
Updated: Free Agency: Another Gone - Apparently
All Da King's Men:
IPCC Already Wrong About Global Warming
Blog of Mass Destruction:
Wow….Sarah Palin Resigns Governorship
Akron Law Café:
Abraham Lincoln and the Fourth of July
Varsity Letters:
Highland senior receives honor
See Jane Style:
Picnic Wear
Car Chase:
Where do We Go from Here?
Let's Talk Real Estate:
Hate Crime in Fort Worth Texas: "That F***t had it Coming"
Ohio Travels with Betty:
Linda asks-where is the Ohio Chautauqua?
Sound Check:
Rundgren fans rejoice!: Second night of AWATS at The Civic added
HRLite House:
Sport Psychology and Performance Consulting
Akron Gamer:
Hot link: Best of Nintendo at E3
Conn. company says profit up 11 percent in 2nd quarter
Published on Friday, Jul 18, 2008
From staff and wire reports
United Technologies Corp. said Thursday that second-quarter profit rose 11 percent and full-year profit and sales will exceed its forecasts on demand for Otis elevators and Sikorsky helicopters.
One company executive told analysts that United Technologies remains interested in Green-based ATM maker Diebold Inc., but could decide to spend its money elsewhere. The company, in an unsolicited bid, offered $2.63 billion to buy Diebold, but Diebold executives quickly called the $40-a-share offer too low. The proposed deal has remained in limbo as Diebold works to file corrected financial statements with federal regulators.
''It's never been a must-have,'' said Jim Geisler, vice president of finance for United. ''We made our proposal back in February, and a lot of time has passed and there are other opportunities in the world, including buying [United Technologies] stock. So we'll have to see.''
United Technologies' net income rose to $1.28 billion, or $1.32 a share, from $1.15 billion, or $1.16, topping the average analyst estimate in a Bloomberg News survey. Revenue gained 13 percent to $15.7 billion, the Hartford, Conn., maker of Pratt & Whitney jet engines and Carrier air-conditioners said in a statement.
United Technologies rose $3.59, or 5.9 percent, to $64.70. It was the biggest increase since April 19, 2006.
Chief Executive Louis Chenevert, who took over in April, said he's doubling his target for reducing costs to $300 million this year as spare-parts sales slow in the aerospace businesses. United Technologies is also getting more than 60 percent of its revenue from overseas, helping compensate for the weaker U.S. economy.
Get the full article here.
Comments
Click here to post your comments
