ITW Reports Total Operating Revenue Growth of 11 Percent for Three Months Ended November 30, 2010; Company's Organic Revenues Grow 9 Percent in Three Month Period

Dec 15, 2010, 08:00 ET from Illinois Tool Works Inc.

GLENVIEW, Ill., Dec. 15, 2010 /PRNewswire-FirstCall/ --Illinois Tool Works Inc. (NYSE: ITW) today reported a total Company operating revenue increase of 11 percent for the three months ended November 30, 2010 versus the year-ago period.  Organic or base revenues contributed 9 percent to total revenue growth in the three month period.  In addition, acquisitions added 3 percent to top line growth while currency translation was 1 percent negative.  A number of the Company's worldwide end markets continued to show strong demand levels for the three month period, especially those end markets associated with the Company's welding, electronics, test and measurement, industrial packaging and automotive OEM businesses.

On a segment basis, the Company's change in three-month moving average percentage for operating revenues, comprised of organic revenues, acquisitions and currency translation, is provided below.  

(% change for 3 months ended November 30, 2010 versus prior year period)

*Transportation:

+

10.1 %

*Industrial Packaging:

+

14.6 %

*Food Equipment:

+

1.8 %

*Power Systems and Electronics:

+

22.8 %

*Construction Products:

+

10.3 %

*Polymers and Fluids:

+

5.8 %

*Decorative Surfaces:

+

1.0 %

*All Other:

+

15.7 %

The Company is forecasting fourth quarter 2010 diluted income per share from continuing operations to be in a range of $0.74 to $0.82. The 2010 fourth quarter forecast assumes a total revenue growth range of 7 percent to 9 percent. For full-year 2010, the Company is forecasting diluted income per share from continuing operations to be in a range of $2.99 to $3.07. The 2010 full-year forecast assumes a total revenue growth range of 13 percent to 14 percent.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitations, statements regarding operating revenues, end markets, diluted income per share from continuing operations, and the Company's related forecasts. These statements are subject to certain risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated. Important factors that could cause actual results to differ materially from the Company's expectations are set forth in ITW's Form 10-K for 2009.

With $13.9 billion in 2009 revenues, ITW is a multinational manufacturer of a diversified range of value-adding and short lead-time industrial products and equipment. The Company consists of approximately 800 business units in 57 countries and employs approximately 59,000 people.

SOURCE Illinois Tool Works Inc.



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