Industrials

Return to Article

United Technologies Backs '09 Forecast

Joseph Woelfel

United Technologies(UTX Quote), the maker of Pratt & Whitney aircraft engines and Sikorsky helicopters, on Monday reaffirmed it expects 2009 revenue of about $55 billion and earnings of between $4 to $4.50 a share.

The company, a component of the Dow Jones Industrial Average, is meeting with investors Monday at the Paris Air Show.

In a statement, United Technologies also said it expects 2009 cash flow from operations less capital expenditures should equal or exceed net income attributable to common shareowners.

Analysts surveyed by Thomson Reuters expect the company to earn $4.09 a share on revenue of $54.13 billion.

Meanwhile, the Wall Street Journal reports Sikorsky is willing to partner with former rival Lockheed Martin (LMT Quote) to resuscitate a recently canceled contract to supply high-tech helicopters to the White House.

The presidential-helicopter program -- which had been held by Lockheed using a design from Italy's Finmeccanica -- was axed earlier in June because it was too costly and problematic.

Sikorsky President Jeff Pino said Sunday he wrote to U.S. Defense Secretary Robert Gates early this month expressing interest in supplying Lockheed with helicopters as an option that could help save costs, the Journal adds.