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United Technologies


Friday reported strong revenue gains across its business units, helping it beat analysts' expectations in the fourth quarter.

The Connecticut-based conglomerate's net income rose 11% to $650 million, or $1.29 a share, vs. $588 million, or $1.16 a share, in the year-ago period.Revenue rose 15% to $9.8 billion.

Analysts expected EPS of $1.27 on revenue of $9.29 billion.

Cash flow from operations was $858 million in the quarter, including $347 million in voluntary contributions to pension plans.

"We have momentum going into 2005 and confirm expectations of earnings per share growth of 10% to 15% and cash flow after capital expenditures again in the range of net income before pension contributions," the company said.

The quarterly results include restructuring costs and favorable items worth 22 cents and 14 cents a share, respectively. The weak dollar boosted EPS by about 4 cents.

Revenue at the company's Carrier heating and cooling systems unit was particularly strong, up to $2.70 billion from $2.20 a year ago. Revenue at engine maker Pratt & Whitney rose to $2.17 billion from $1.97 billion. The company's other units include Otis elevators and Sikorsky helicopters.

Shares closed at $99.78 Thursday.