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by Stephanie Neil, MA Editorial Staff
Posted on Monday, October 22, 2007 5:08:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Still riding strong market demand that has lifted all boats in the automation sector, the company sees a bright picture ahead and raises guidance. |
| Keywords: | Honeywell's third quarter, Honeywell third quarter
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With three of its four business units experiencing double-digit growth and overall sales up 10%, Honeywell International Inc. sailed through its third quarter and raised its sales guidance for the year. For the third quarter ended Sept. 30, Honeywell reported net income of $618 million on sales of $8.7 billion, up from net income of $541 million on sales of $7.9 billion in the same period last year. While a strong foreign currency exchange helped the company, key drivers of the revenue increase included a multi-year contract in the Aerospace division and the global growth of Honeywell's Automation and Control Solutions (ACS) business, company officials said. ACS has had 10 consecutive quarters of double-digit growth. The division reported sales of $3.19 billion, a 12% increase over the year-ago quarter, and a 13% rise in segment profit to $373 million. [Click to continue] |
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