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United Technologies 3Q profit up 11 pct on aerospace, elevator orders; raises profit forecast
HARTFORD, Conn. (AP) ' United Technologies Corp. says its third-quarter profit rose nearly 11 percent as orders rose in double digits at several aerospace and building systems businesses. The manufacturing conglomerate raised its forecast for the year.
The Hartford, Conn., company, which makes jet engines, elevators and other aerospace and building systems components, says that it earned net income of $1.32 billion, or $1.47 per share, in the quarter ended Sept. 30. That's up from $1.20 billion, or $1.30 per share, in the third quarter of 2010.
Revenue rose 9 percent to $14.8 billion from $13.62 billion.
Analysts polled by FactSet had expected earnings per share of $1.44 on revenue of $14.55 billion.
United Technologies raised its 2011 profit guidance to $5.47 per share, up from $5.35 to $5.45 previously.