Honeywell Confirms First Quarter Sales of $7.2 - 7.6 Billion, and Updates Earnings Per Share of $0.40 - 0.45
February 19 2010 - 8:30AM
PR Newswire (US)
Company to Present its Long-Term Growth Outlook at its Annual
Investor Conference on Monday, February 22nd MORRIS TOWNSHIP, N.J.,
Feb. 19 /PRNewswire-FirstCall/ -- Honeywell (NYSE: HON) announced
that it is re-affirming its full-year 2010 financial guidance,
including sales of $31.3 - 32.2 billion and earnings per share
(EPS) of $2.20 - 2.40. In addition, the company confirmed first
quarter sales guidance of $7.2 - 7.6 billion and updated its first
quarter EPS guidance to $0.40 - 0.45, which reflects the company's
continued strong operational performance and excludes the potential
negative impact of proposed healthcare legislation that was
previously included in its first quarter EPS guidance. "The outlook
for Honeywell is bright," said Honeywell Chairman and Chief
Executive Officer Dave Cote. "We performed well in the last
recovery, well in the recession, and will perform even better in
this recovery. We continued seed planting throughout the cycle,
investing in innovative new products and technologies, which
positions us well for growth. We maintained our research and
development investment, expanded our emerging region presence, and
made further progress on our key process initiatives. This focus
allows us to build on our technology differentiation and expand our
global footprint. Today, we are building off a much stronger base
that will enable us to drive significant growth over the next five
years." Honeywell will hold its annual investor conference on
Monday, February 22 to discuss strategies for its businesses and
major markets, including detail on its attractive long-term growth
outlook. Related presentation materials and webcast information
will be available at http://www.honeywell.com/investor prior to the
investor meeting. Investors can access a replay of the Webcast on
the Website shortly after the conclusion of the meeting. Honeywell
(http://www.honeywell.com/) is a Fortune 100 diversified technology
and manufacturing leader, serving customers worldwide with
aerospace products and services; control technologies for
buildings, homes, and industry; automotive products; turbochargers;
and specialty materials. Based in Morris Township, N.J.,
Honeywell's shares are traded on the New York, London, and Chicago
Stock Exchanges. For more news and information on Honeywell, please
visit http://www.honeywellnow.com/. This release contains certain
statements that may be deemed "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934.
All statements, other than statements of historical fact, that
address activities, events or developments that we or our
management intends, expects, projects, believes or anticipates will
or may occur in the future are forward-looking statements. Such
statements are based upon certain assumptions and assessments made
by our management in light of their experience and their perception
of historical trends, current economic and industry conditions,
expected future developments and other factors they believe to be
appropriate. The forward-looking statements included in this
release are also subject to a number of material risks and
uncertainties, including but not limited to economic, competitive,
governmental, and technological factors affecting our operations,
markets, products, services and prices. Such forward-looking
statements are not guarantees of future performance, and actual
results, developments and business decisions may differ from those
envisaged by such forward-looking statements. Media Investor
Relations Robert C. Ferris Elena Doom (973) 455-3388 (973) 455-2222
DATASOURCE: Honeywell CONTACT: For Media: Robert C. Ferris,
+1-973-455-3388, , or For Investor Relations: Elena Doom,
+1-973-455-2222, Web Site: http://www.honeywell.com/
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