Illinois Tool Works
said operating revenue increased 5% for the third quarter ended Oct. 31 due in part to strong performance in North American and international automotive and construction businesses.
The company also reaffirmed its fourth-quarter 2002 earnings forecast.
Illinois Tool expects to earn 67 cents to 77 cents a share for the fourth quarter and between $2.95 to $3.05 a share for 2002. Analysts expected 73 cents a share for the fourth quarter and $3.01 a share for the year.
Shares of the Glenview, Ill.-based diversified manufacturer closed at $64.57 on the
New York Stock Exchange