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ITT Reports Strong Third Quarter 2009 Operating Results

Monday, November 02, 2009  
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ITT Corp. reported third quarter 2009 net income from continuing operations of $66 million, or $0.36 per share. When adjusted to exclude special items, income from continuing operations for the quarter was $190 million, or $1.03 per share, exceeding the previous guidance mid-point by $0.18. The Company raised its adjusted full-year earnings forecast to $3.70 to $3.74 per share, excluding special items.

Third quarter 2009 revenue for the Fluid Technology segment was $826 million, down 13 percent year-over-year and 10 percent organically. Results outperformed expectations, despite challenged industrial, municipal and residential market conditions. Segment operating performance was strong due to the impact of cost measures earlier in the year. More…

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