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United Technologies Corp. sees 19% raise in Q1

April 24, 2012, Hartford, Conn. - United Technologies Corp. says net income from continuing operations rose more than 19 per cent during the first quarter, factoring out the businesses that the manufacturer put up for sale.


April 24, 2012
By Carey Fredericks

That would equate to earnings of $1.26 billion, or $1.31 per share, compared with earnings from those same operations last year of $1.05 billion, or $1.06 per share.

That tops the $1.21 expected on Wall Street, according to a poll by FactSet.

The parent company of jet engine maker Pratt & Whitney, Otis elevator, Carrier heating and cooling and other aerospace and building systems companies said Tuesday that revenue was $12.42 billion in the January-March quarter, down 2 per cent from the same period last year.

Including the discontinued operations, net income fell to $330 million, compared with $1.01 billion last year.