UK equipment manufacturer Ingersoll-Rand has reported record earnings and earnings per share for the third quarter of 1999. Net earnings of $133.5m for this period from continuing operations were 24% above last year’s earnings of $107.3m.
For continuing operations, third quarter diluted earnings per share of 80 cents increased by 23% compared to diluted earnings per share of 65 cents in the 1998 third quarter.
Third quarter 1999 sales from continuing operations were $1846m, a 2.4% increase on last year’s third quarter. An increase of 15% from the third quarter of 1999 occurred in operating income, rising to $272.9m. The third quarter 1999 total diluted earnings per share (continuing and discontinued operations) of 83 cents displayed an increase of 15% compared to diluted earnings per share of 72 cents in the third quarter of 1998.
Remarking on the results, Herbert L Henkel, president and chief executive officer said, ” Ingersoll-Rand remains well positioned to achieve consistently improving financial results through its diversity, market leading businesses and ongoing operating improvement processes.”
