United Technologies (UTX) beat second-quarter targets and boosted full-year revenue guidance.The Hartford, Conn., industrial conglomerate made $1.1 billion, or $1.09 a share, for the quarter ended June 30, up from the year-ago $971 million, or 95 cents a share. The latest-quarter profit included a 7-cent gain. Excluding that item, earnings were $1.02 a share, beating the Thomson Financial analyst consensus estimate. Sales rose 10% to $12.26 billion, sailing past the $11.81 billion Thomson target. The company said latest-quarter revenue growth was up 8% organically, excluding the effect of acquisitions. "This has been another strong quarter for UTC, with continuing higher organic growth rates reflecting good economies worldwide," CEO George David said. "Segment operating margin expanded to 14.2%. Aerospace demand and margin performance were exceptionally strong, offsetting a weaker quarter at Carrier where results were held back by a slower than planned production ramp of the new 13 SEER product line in its large North American Residential business." The company said it now expects to make $3.55 to $3.65 a share for the year on revenue of $47 billion. Analysts are looking for earnings of $3.62 on revenue of $46.1 billion. Cash flow from operations was $812 million and capital expenditures $218 million. Share repurchase in the quarter was $375 million, on track with guidance of $1.5 billion for the year. "We fell short of UTC's usual standard of cash flow from operations less capital expenditures in excess of net income, as a result of working capital build and noncash gains in net income," David said. "Aerospace inventory build, driven by strong organic growth and the Sikorsky strike, along with Carrier's seasonal working capital requirements, reduced cash flow in the quarter. We anticipate significant working capital reductions over the balance of the year and full-year cash flow after capital expenditures equaling or exceeding net income."