|
by Stephanie Neil, MA Editorial Staff
Posted on Friday, October 27, 2006 3:57:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Net income nearly doubles on a 7% increase in revenues buoyed by large orders for automation products and process automation deals. |
| Keywords: | ABB, Rockwell, DCS, Industrial IT System 800xA |
Driven by strong order growth in its Automation Products and Process Automation divisions, ABB Inc. yesterday reported third-quarter net income of $397 million, nearly double the $188 million earned in the like period last year. Revenues in the period edged up 7% to $6 billion from the $5.6 billion posted in the year-earlier period. Earnings before interest and taxes (EBIT) came in at $686 million, up 48% from the same period last year. Large orders in the company's automation products and process automation units -- those worth $15 million or more -- were up 31% from the corresponding period of 2005, ABB said. This offset a revenue decline in the Zurich-based company's Power Systems and Robotics divisions, ABB noted. [Click to continue] |
|
|
|
|