Honeywell International Inc. Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011
January 27, 2012 at 07:30 am
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Honeywell International Inc. reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported net sales were $9,473 million against $8,749 million a year ago. Loss from continuing operations before taxes was $657 million against income of $459 million a year ago. Net loss attributable to Honeywell was $310 million against income of $369 million a year ago. Net loss per share diluted was $0.40 against diluted earnings per share of $0.47 a year ago. Net cash provided by operating activities was $1,477 million against $1,045 million a year ago. Expenditures for property, plant and equipment was $332 million against $300 million a year ago. Proforma earnings (excluding the impact of pension mark-to-market adjustments) was $1.05 per share, up 21% over $0.87 in fourth quarter of 2010; Reported fourth quarter of 2011 earnings reflected a loss of $0.40 per share versus earnings of $0.47 per share in the prior year.
For the year, the company reported net sales were $36,529 million against $32,350 million a year ago. Income from continuing operations before taxes was $2,282 million against $2,722 million a year ago. Net loss attributable to Honeywell was $2,067 million against $2,022 million a year ago. Net loss per share diluted was $2.61 against diluted earnings per share of $2.59 a year ago. Net cash provided by operating activities was $2,833 million against $4,203 million a year ago. Expenditures for property, plant and equipment was $798 million against $651 million a year ago. 2011 proforma earnings (excluding the impact of pension mark-to-market adjustments) was $4.05 per share, up 35% over $3.00 in 2010. Reported EPS was $2.61 in 2011 against $2.59 in the prior year.
Honeywell International Inc. specializes in the manufacturing and marketing of industrial equipment. The group also offers maintenance, technical assistance and engineering services. Net sales break down by family of products as follows:
- aeronautical equipment (37.2%): engines, navigation hardware and software, propulsion and communication systems, satellite and space components, lighting equipment, wheels, etc. The group also offers turbochargers for motor vehicles;
- performance materials and technologies (31.4%): polymers, fibers, resins, acids, additives, catalysts, sorbents, semiconductor packaging materials, coating materials, etc.;
- building automation and control systems (16.4%): heating and ventilation control systems, fire alarms, thermostats, monitoring systems, etc.;
- security and productivity optimization solutions (15%): personal safety equipment, warning systems, gas detection systems, data collection and thermal printing computer solutions, warehouse and supply chain automation systems, data and production process management solutions, etc.
Net sales are distributed geographically as follows: the United States (57%), Europe (22%) and other (21%).