Illinois Tool Works Inc. reported an 11-percent sales increase in the three months through November, citing strength in markets like welding, electronics and automotive. The company, whose products include industrial fasteners and professional kitchen equipment, reiterated a prior outlook calling for per-share profit from continuing operations of 74 cents to 82 cents for the fourth quarter and $2.99 to $3.07 for the full year.
Analyst estimates for the year are slightly higher, at $3.09 per share, according to Thomson Reuters I/B/E/S.
The sales increase marked a slight slowdown from the 13-percent pace reported in the three months through October.
Core sales contributed 9 percentage points in the latest period, acquisitions added three points, and foreign exchange reduced sales by 1 point.
Illinois Tool said this month core sales would be up 5 percent to 7 percent in 2011.
