June 15, 2007 -- Illinois Tool Works Inc. today reported an operating revenue increase of 15 percent for the three months ended May 31, 2007. Total revenue growth was in line with company expectations. Operating revenues for the three month period consisted of a 10 percent increase from acquisitions net of divestitures, 1 percent growth from base revenues and a 4 percent contribution from translation. The Company's strong acquisition pace over the past 12 months resulted in continuing double digit growth in acquisition revenues. While base revenue growth benefited from strong demand from a broad array of international end markets, a number of North American end markets continued to be weak.
On a manufacturing segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues and acquisitions net of divestitures, is provided below.
% change for 3 months ended May 31, 2007 versus prior year period)
*Engineered Products/North America: - 2%
*Engineered Products/International: + 25%
*Specialty Systems/North America: + 10%
*Specialty Systems/International: + 20%
The Company's forecasted earnings range is $0.86 to $0.90 in the 2007 second quarter and $3.27 to $3.39 for the full-year. The midpoints of these 2007 forecasted ranges would represent earnings growth of 9 percent in the second quarter and 11 percent for the full-year.
The statements regarding the Company's 2007 second quarter and full-year forecasts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks, uncertainties and other factors, which could cause actual results to differ materially from those anticipated. Important factors that could cause actual results to differ materially from the Company's expectations are set forth in ITW's Form 10-Q for the 2007 first quarter.
Source: Illinois Tool Works
