Honeywell Projects Its 2004 Earnings
MORRIS TOWNSHIP, N.J.
Honeywell has opened its crystal ball into its 2004 pocketbook and sees higher earnings ahead for all of its divisions, including security.
The parent company of Ademco says in its company outlook that it expects its 2004 earnings to grow between 9 percent and 17 percent, with revenue and profit to grow in all four of its operating segments. The company also forecasted fourth-quarter earnings of 47 cents per share.
“The company continues to perform well, delivering solid earnings and cash flow while also investing in growth initiatives,” says Honeywell CFO Dave Anderson. “We have good momentum going into 2004 and while there are some limited signs of improvement in our end markets, we are not dependent on significant economic improvement to meet our guidance.”
Honeywell expects its Automation and Control segment, which includes its security businesses, to see a $200 million increase in sales. Included in that are projected 2004 sales in sensors and fire products going up 5 percent and security up 4 percent. In its outlook, the company sees especially high growth in its sensors products.
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