Honeywell International, the diversified technology and manufacturing supplier, said today that fiscal second-quarter 2008 net income jumped 18% to $723 million on a 13% sales increase to $9.7 billion. Sales growth was strongest in the company's Automation and Control Solutions unit, which posted a 19% increase.
For the quarter ended June 30, earnings per share rose to $0.96, compared with $0.78 in last year's fiscal second quarter. Encouraged by the results, Honeywell increased its sales guidance for the full year to $37.6 billion to $38.2 billion and full-year earnings per share to $3.75 to $3.85.
"We're very pleased with our second-quarter performance and remain confident on our outlook for the year despite a tougher economic environment," said Dave Cote, chairman and chief executive, during a conference call today with financial analysts.
Senior Vice President and CFO Dave Anderson added that the future is bright in all areas of Honeywell. "We're executing well and we continue to deliver across the diversified global Honeywell portfolio," he said. "We continue to grow across all regions."