By Ameet Sachdev |
Illinois Tool Works Inc. touched up its outlook for the first quarter
because of increased production by global automotive manufacturers.
 
Glenview-based ITW said first-quarter earnings from continuing
operations are estimated to be 52 cents a share to 60 cents a share. The
quarter will end March 31. Its prior outlook called from profits
between 48 cents to 60 cents a share.

In the first quarter of 2009, the company reported a loss of 6 cents a share from continuing operations.
 
For the full year, the company forecasted earnings per share from continuing operations to be $2.43 to $2.93, maintaining its prior outlook.
 
The company said operating revenues rose 10 percent for the three months ended Feb. 28 compared with the same period a year ago. Currency translation accounted for 6 percentage points of the increase, ITW said. The company said it expects first-quarter revenues to grow 13 percent to 15 percent.
 
By operating segment, revenues in ITW’s transportation segment jumped 35.4 percent for the three months ended Feb. 28.