By Matt Grossman
Illinois Tool Works Inc. on Friday posted slight upticks in revenue and earnings figures in the latest quarter, as foreign-exchange factors helped offset a small organic decline.
The Glenview, Ill.-based industrial manufacturer logged earnings of $2.02 a share, up from $1.99 a share in the year-ago quarter. Net income was $642 million, compared with $641 million a year earlier.
Analysts surveyed by FactSet were expecting a profit of $1.77 a share.
Revenue was $3.48 billion, compared with $3.47 billion in the year-ago quarter. Analysts had forecast revenue of $3.32 billion. Revenue declined by 0.9% organically, but sales were helped by favorable foreign-currency translation.
Selling, administrative and research-and-development expenses declined to $557 million, from $586 million in the year-ago quarter. The company's operating margin was 25.4%.
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(END) Dow Jones Newswires
February 05, 2021 08:30 ET (13:30 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.