United Technologies reports 11 percent profit rise
AP , Hartford: Jul 17 2008
Made Popular Jul 17 2008

United Technologies Corp. is reporting an 11 percent gain in profit in the second quarter, prompting the industrial conglomerate to increase its full-year guidance on revenue and per-share earnings.

Earnings rose to $1.28 billion, or $1.32 per share, up from $1.15 billion, or 1.16 per share, in the second quarter in 2007.

The per-share earnings topped expectations of $1.30 by Wall Street analysts surveyed by Thomson Financial.

United Technologies, parent company of jet engine manufacturer Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other businesses, also reported a revenue increase of 12.7 percent, to $15.7 billion, up from $13.9 billion in the same quarter last year.

United Technologies said it expects revenue of more than $60 billion and earnings per share of between $4.80 and $4.95, up from previous guidance of between $4.65 and $4.85.

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