Ingersoll Rand Delivers Fourth-Quarter Adjusted EPS From Continuing Operations Of $0.76

Ingersoll-Rand plc (NYSE:IR), a world leader in creating and sustaining safe, comfortable and efficient environments, today reported that total revenues, excluding the divested Hussmann refrigeration business, increased 1 percent for the fourth quarter of 2011 compared with the 2010 fourth quarter. Adjusted diluted earnings per share from continuing operations were $0.76.

The company reported net earnings of $242.2 million, or EPS of $0.76, for the fourth quarter of 2011. Fourth-quarter net earnings included $249.4 million, or EPS of $0.79, from continuing operations, as well as $7.2 million of costs, or EPS of $(0.03), from discontinued operations. Continuing operations included EPS of $0.03 related to the final disposition of the Hussmann refrigeration business. Excluding these items, adjusted EPS from continuing operations for the fourth quarter of 2011 were $0.76. This compares with net earnings for the 2010 fourth quarter of $212.1 million, which included EPS of $0.62 from continuing operations and no EPS impact from discontinued operations. (See EPS table below)

EPS for Q4 and Full Year
				Q4								Full Year
				2011				2010				2011				2010
Reported EPS				$	0.76			$	0.62			$	1.01			$	1.89
Adjustments:
-Discontinued Operations					0.03				0.00				0.17				0.35
-Asset Impairment/Loss on Sale					(0.03	)			---				1.64				---
-Healthcare-Related Tax Item					---				---				---				0.12
Adjusted EPS from Continuing Operations				$	0.76			$	0.62			$	2.82			$	2.36
Adjusted EPS Growth					+23	%							+19	%

Full-Year Results

Full-year 2011 net revenues were $14,782 million, an increase of 6 percent compared with reported net revenues of $14,001 million in 2010. Excluding the results of the divested Hussmann refrigeration business, 2011 revenues increased by 8 percent. Operating income for 2011 totaled $860 million, including a pre-tax impairment charge/loss on sale of $647 million from the Hussmann divestiture. Excluding these charges, the adjusted operating income was $1,507 million, an increase of 19 percent, compared with $1,261 million in 2010. Reflecting primarily year-over-year productivity savings and higher pricing, adjusted operating margin increased by 1.2 margin points over 2010 to 10.2 percent.