WASHINGTON (dpa-AFX) - Illinois Tool Works Inc (ITW) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $717 million, or $2.38 per share. This compares with $907 million, or $2.95 per share, in last year's fourth quarter.
Excluding items, Illinois Tool Works Inc reported adjusted earnings of $2.42 per share for the period.
Analysts on average had expected the company to earn $2.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 0.3% to $3.983 billion from $3.971 billion last year.
Illinois Tool Works Inc earnings at a glance (GAAP) :
-Earnings (Q4): $717 Mln. vs. $907 Mln. last year. -EPS (Q4): $2.38 vs. $2.95 last year. -Analyst Estimates: $2.41 -Revenue (Q4): $3.983 Bln vs. $3.971 Bln last year.
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