GLENVIEW, Ill., May 15 /PRNewswire-FirstCall/ -- Illinois Tool Works Inc. today reported an operating revenue increase of 11.5 percent for the three months ended April 30, 2008. Growth in revenues was largely due to contributions from translation and acquisitions. Base revenues also contributed to growth in the three month period. Revenues for the first month of the second quarter were modestly ahead of Company expectations. On a segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below.
(% change for 3 months ended April 30, 2008 versus prior year period)
*Industrial Packaging: +14.9 %
*Power Systems and Electronics: + 8.9 %
*Transportation: +11.5 %
*Construction Products: + 2.7 %
*Food Equipment: +25.1 %
*Polymers and Fluids: +27.8 %
*Decorative Surfaces: + 3.3 %
*All Other + 8.6 %
Looking ahead, the Company is forecasting a second quarter 2008 diluted income per share from continuing operations of $0.94 to $1.00. The 2008 second quarter forecast assumes a total company revenue growth range of 9 percent to 12 percent. The Company is forecasting full-year 2008 diluted income per share from continuing operations range of $3.35 to $3.49. The full-year forecast assumes a total company revenue growth range of 8 percent to 12 percent. The statements regarding the Company's 2008 second quarter and full-year forecasts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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-Q for the 2008 first quarter. With $16.2 billion in revenues, ITW is a diversified and value-added manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 825 business units in 52 countries and employs some 60,000 people.
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