Illinois Tool Works Reports Total Operating Revenue Growth of 16%; Sees FY 2011 EPS of $4.16 to $4.34

Illinois Tool Works Inc. ITW today reported a total operating revenue increase of 16 percent for the three months ended April 30, 2011 compared to the year-ago period. The Company is forecasting full-year 2011 diluted net income per share to be in a range of $4.16 to $4.34. The full-year forecast includes the $0.33 per share one-time tax benefit recorded in the 2011 first quarter. It also includes full-year operating results from the finishing group that is expected to be sold to Graco Inc. no sooner than June of 2011. The 2011 full-year forecast assumes a total revenue growth range of 16 percent to 18 percent. For the 2011 second quarter, the Company is forecasting diluted net income per share to be in a range of $0.99 to $1.05. The 2011 second quarter forecast assumes a total revenue growth range of 17 percent to 20 percent.