StockMarketWire.com - Honeywell saw full-year sales rise 13% to $36.5bn and proforma earnings increase by 35% to $4.05 per share after a 'terrific 2011'.
Fourth quarter sales were up 8% at $9.5bn and proforma earnings (excluding the impact of pension mark-to-market adjustments) of $1.05 per share were up 21% over $0.87 a year ago.
Reported fourth quarter earnings reflected a loss of ($0.40) per share versus earnings of $0.47 per share a year ago.
Chairman and chief executive Dave Cote said: "Honeywell had a terrific 2011.
"We executed across the portfolio with record organic sales growth and segment margins.
"Our 2011 performance reflects the operational and financial disciplines that underpin the transformation that has taken place at the company over the last 10 years.
"While we expect a more challenging macro environment ahead in 2012, primarily driven by softness in Europe impacting the short-cycle businesses, we're confident that Honeywell is well positioned to continue to outperform."
Story provided by StockMarketWire.com
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