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Local News

UTC Net Income, Revenue Up In Third Quarter

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(Courtesy United Technologies website)

(Courtesy United Technologies website)

By STEPHEN SINGER,  AP Business Writer

HARTFORD, Conn. (AP) _ United Technologies Corp. says its
third-quarter net income and revenue rose on higher orders in
elevator sales, heating and cooling equipment and commercial
aviation spare parts.

The parent company of Otis Elevator, jet engine maker Pratt &
Whitney, Sikorsky helicopter and other aerospace and building
system manufacturers said it was shaving its revenue outlook for
the year due to a weak recovery in commercial aerospace maintenance
and repair and uncertainty in the global economy.

The Hartford, Conn.-based company reported net income available
to common shareholders of $1.42 billion, or $1.56 per share, for
the three months ended Sept. 30. That’s up 7.5 percent from $1.32
billion, or $1.47 per share, a year ago.

Its earnings from continuing operations came to $1.37 per share.
Analysts surveyed by FactSet expected $1.19 per share.
Revenue of $15.04 billion was up 6 percent. Analysts expected
$15.6 billion in revenue.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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