United Tech Reaffirms - TheStreet

United Tech Reaffirms

Shares rise.
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United Technologies reaffirmed its 2007 earnings guidance of $4.05 to $4.20 a share.

The Hartford, Conn., helicopters and elevators conglomerate, meeting in New York with securities analysts, said revenue for the year should exceed $51 billion. Organic growth, excluding the effect of acquisitions, should be 6%, United Tech said.

Analysts surveyed by Thomson Financial were looking for a full-year profit of $4.20 a share on revenue of $51.14 billion.

During the first quarter, UTC expects to recognize a charge for a European Commission fine assessed against Otis Elevator. UTC expects one-time benefits and a previously established reserve to reduce the net impact of the fine to 7 cents per share.

Shares rose 34 cents to $65.80.