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by Emily-Sue Sloane, MA Editorial Staff Posted on Thursday, October 25, 2007 4:38:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Automation giant continues streak of double-digit order growth, driven by global need for power and automation technologies.
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| Keywords: | ABB Q3, ABB's Q3 |
ABB today announced a stunning 86% increase in net income in its third quarter, on a 26% increase in revenue. This was the automation giant's 11th consecutive quarter of double-digital order growth, as demand for power and automation technologies remained strong in all of the regions the company serves. Third-quarter revenue totaled $7.19 billion, compared with $5.68 billion in last year's third quarter, and net income was $738 million, up from $397 million a year earlier. Earnings before interest and taxes (EBIT) rose to $1.03 billion from a year-earlier $669 million. The company reported $8.32 billion in orders during the Sept. 30-ended quarter -- up 33% from $6.28 billion. "A combination of strong market growth and operational discipline has once again paid off," said Fred Kindle, ABB president and CEO, in a prepared statement. "Our market and technology leadership, together with performance improvements, are helping us to reap the full benefits from continuing global growth and heightened concerns about climate change and energy efficiency." [Click to continue] |
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