Ingersoll-Rand Reports Record 3rd Quarter Revenue
Crediting its focus on innovation, services and creative solutions, as well as the progress of its acquisition program, Ingersoll-Rand Co. Ltd. reported third-quarter net earnings of $254.2 million. The number was a significant increase from the $237.8 million in earnings that was reported for the same period in 2004.
Ingersoll-Rand’s security technologies division, which includes mechanical and electronic security products, biometric and access-control technologies, and security and scheduling software, reported a 14-percent increase in revenue to $527 million. The division was partially credited with the company’s overall third-quarter revenue increase of 10 percent to $2.7 billion. The increased security technology revenue included $52 million from security products manufacturer CISA, which was purchased in the first quarter of 2005.
The company also announced that they anticipate significant sales growth in the fourth quarter due to the demand from hurricane victims in the Gulf Coast, resulting in a projected revenue increase of 10 percent.
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