United Technologies (UTX) beat fourth-quarter estimates and reaffirmed 2007 guidance.

The Hartford, Conn., air conditioners and elevators conglomerate made $865 million, or 87 cents a share, for the quarter ended Dec. 31, up from the year-ago $626 million, or 62 cents a share. Revenue rose to $12.79 billion from $11.26 billion a year earlier.

Analysts surveyed by Thomson Financial were looking for an 85-cent profit on sales of $12.17 billion.

"Organic growth for the year was strong at 9% and follows 7% in 2005 and 8% in 2004," said CEO George David. "These growth rates reflect UTC's innovative and competitive products, strong presence in emerging markets, and good conditions in most of our markets worldwide.

"The exception has been Carrier's North American residential market over the second half of 2006 on a substantially weaker U.S. housing market," he said. "However, robust aerospace and commercial construction markets well more than offset this."

David added, "We believe we are well positioned for earnings increases in 2007 and especially on favorable compares at Carrier and Sikorsky. We confirm prior guidance for 2007 earnings per share in the $4.05 to $4.20 range and cash flow after capital expenditures again to exceed net income."

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