Honeywell reports increased profits in 1Q2010

Honeywell reports (23-Apr-2010) the following financial highlights for the three months ended 31-Mar-2010:

• Net sales: USD7,776 million, +2.7% year-on-year;
  • Aerospace: USD2,506 million, -9.2%;
  • Automation and Control Solutions: USD3,124 million, +4.1%;
  • Specialty Materials: USD1,139 million, +8.1%;
  • Transportation Systems: USD1,007 million, +33.2%;
• Total segment profit: USD1,036 million, +18.3%;
  • Aerospace: USD413 million, -15.4%;
  • Automation and Control Solutions: USD386 million, +24.1%;
  • Specialty Materials: USD170 million, +36.0%;
  • Transportation Systems: USD96 million, compared to a loss of USD3 million in the previous corresponding period;
• Profit before tax: USD553 million, +1.8%;
• Net profit: USD393 million, -1.5%. [more]

Honeywell: "While the timing and shape of the recovery is uncertain and we remain conservative in our planning assumptions, the outlook for Honeywell is bright," Dave Cote, Chairman and CEO. Source: Honeywell, 23-Apr-2010.