Earnings Round-Up: Honeywell, GE, Ingersoll-Rand
MORRIS TOWNSHIP, N.J.
Profits were up in 2004 for Honeywell, with the segment that includes Honeywell Security seeing a 6-percent increase in earnings for the year. Overall, Honeywell posted a net income of $1.45 billion in 2004, a 9-percent increase over the $1.32 billion earned in 2003.
Honeywell’s Automation and Control Solutions (ACS) segment, which includes the company’s fire and security companies, had a profit of $894 million in 2004 compared to $843 million the year before. ACS had net sales of $8 billion for the year, a $567 million increase over 2003.
Overall revenues for Honeywell were up 11 percent to $25.6 billion.
In other earnings news …
GE:Boosted by record fourth-quarter earnings of $5.4 billion, the parent company of GE Infrastructure, Security reported 2004 earnings up 6 percent from the previous year to $16.6 billion.
The Infrastructure division, which includes GE’s security and fire products, saw a 22-percent increase in earnings to $563 million with revenue of $3.5 billion.
INGERSOLL-RAND:The parent company for such security brands as Schlage, Recognition Systems and Locknetics, reported a 53-percent increase in earnings for the full year 2004. IR reported $1.2 billion in earnings for 2004, compared to a $644.5 million profit in 2003.
IR’s Security and Safety sector had revenues of $1.8 billion in 2004 compared with $1.6 billion the year before.
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