Honeywell sales up 15% in 1Q2011

Honeywell reports (20-Apr-2011) the following financial highlights for the three months ended Mar-2011:

• Net sales: USD8.9 billion, +14.6% year-on-year;
  • Aerospace: USD2.7 billion, +7.6%;
• Income before taxes: USD975 million, +38.9%;
• Net income: USD705 million, +44.2%. [more]

Honeywell: "Honeywell is executing well and delivering terrific results, highlighted by another quarter of record organic sales growth, margin expansion, and higher than expected earnings per share. As a result of our strong first quarter and continued favourable outlook for our major markets, we're raising our 2011 sales and EPS guidance. Honeywell now expects 2011 sales of USD36.0-36.6 billion, up from USD35.0-36.0 billion, reflecting an increase of 8-10% over 2010," Dave Cote, Honeywell Chairman and Chief Executive Officer Dave Cote. Source: Company statement, 20-Apr-2011.