News Summary: United Tech 4Q profit down, sales up

  • Article by: The Associated Press
  • Associated Press
  • January 23, 2013 - 2:48 PM

THE NEWS: United Technologies Corp. fourth-quarter earnings from continuing operations slid 26 percent on charges, but the manufacturing conglomerate posted double-digit revenue growth.

THE NUMBERS: The parent of jet engine maker Pratt & Whitney and Otis elevators posted net income from continuing operations was $945 million, or $1.04 per share, meeting Wall Street expectations. Revenue totaled $16.44 billion for the October-December quarter.

THE OUTLOOK: United Technologies maintained its 2013 profit and revenue outlook, adding that it doesn't expect an impact from the investigation of the Boeing Dreamliner 787. The company's Hamilton Sundstrand unit is a parts supplier for the grounded aircraft.

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