Posted February 9, 2011
Ingersoll-Rand revenues up 13 percent
Ingersoll-Rand reported that 2010 fourth-quarter revenues increased 13 percent to $3.7 billion, compared to $3.2 billion for the 2009 fourth quarter.
U.S. revenues were up 13 percent, and revenues from international operations also increased approximately 13 percent, primarily due to strong growth in Asia.
The company reported net earnings of $212.1 million, or 62 cents per share, for the fourth quarter of 2010.
Full-year 2010 net revenues increased 7 percent to $14.0 billion. Operating income for 2010 totaled $1.2 billion, an increase of 43 percent.
The Industrial Technologies segment, which provides compressed air systems, tools, fluid power products, posted revenues in the fourth quarter of $692 million, an increase of approximately 17 percent. Air and Productivity revenues increased 21 percent, with volume increases in all major geographic regions. Revenues in the Americas increased 17 percent compared with 2009, as industrial and commercial markets for both air compressors and tools continued to improve.
