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Home > Fortune 500 Companies > Illinois Tool Works
Illinois Tool Works
Illinois Tool Works is a publicly traded company having a good stock performance result. Illinois Tool Works is a fortune 500 stock listed company trading under ITW.
Illinois Tool Works Inc. designs and produces a collection of highly engineered fasteners and components, equipment and consumable systems, and specialty products and equipment for customers around the world. A Fortune 200 diversified manufacturing company with more than 90 years of history, ITW's 650 decentralized business units in 45 countries employ nearly 49,000 men and women who are focused on creating value added products and innovative customer solutions.
The company reported an operating revenue increase of 7 percent for the three months ended February 28, 2006. Operating revenues for the three month period consisted of 5 percent growth from base revenues and a 6 percent increase from acquisitions and currency translation and intercompany sales lowered revenues 4 percent in the period. Strong demand from North American end markets, particularly those served by the Company's Specialty Systems business units, continued to drive base revenue growth.
The company has experienced much stronger base revenue growth and operating margin performance than originally anticipated. As a result, the Company is now raising its 2006 first quarter forecasted range of earnings to 1.23 dollar to 1.27 dollar from the prior forecast of 1.12 dollar to 1.18 dollar. For full-year 2006, the Company also is increasing its forecasted range of earnings to 5.76 dollar to 5.94 dollar from the earlier forecast of 5.60 dollar to 5.78 dollar. For the first quarter, base revenues are now expected to grow in a range of 4.9 percent to 5.7 percent. For the full-year, base revenues are forecasted to grow in a range of 4.2 percent to 5.6 percent.
The statements regarding the Company's 2006 earnings estimates are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's first quarter and full-year forecasts. These statements are subject to certain risks, uncertainties and other factors, which 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 2005.
The company is 12.9 billion dollars in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of approximately 700 business units in 48 countries and employs some 50,000 people.
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