ITT Reports Solid Second Quarter
Friday, July 30, 2010
ITT’s second-quarter 2010
Fluid Technology revenue of $878 million was up 1 percent on a year-over-year
basis, primarily driven by the acquisition of Nova Analytics. Organic revenue
(defined as total revenue excluding foreign exchange, acquisition and
divestiture impacts) was down 4 percent, as improvement in residential markets
and strength in U.S. treatment and global dewatering was offset by municipal
weakness in Europe and a decline versus a strong year-ago period in oil and
mining projects. Organic orders for the segment were up 15 percent, largely
driven by solid demand in industrial aftermarket services, strong mining, oil
and gas projects, and a strong U.S. municipal market. More…
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