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In The News:

ITW reports 4 % decline in operating revenues

Illinois Tool Works Inc., Glenview, IL, reported an operating revenue decline of 4 percent for the three months ended January 31, 2002. Operating revenues consisted of 5 percent growth from acquisitions, offset by an 8 percent decline from base businesses and a 1 percent decrease due to the impact of currency translation. The revenue performance for the three-month period was mostly attributable to weak International and North American end markets, including general industrial, automotive and construction.


On a manufacturing segment basis, the company's three month moving average percentage change for revenues is provided below.


(% change for 3 months ended January 2002 versus prior year period)


January


*Engineered Products/North America:


- 3%


*Engineered Products/International:


- 5%



*Specialty Systems/North America:


- 2%



*Specialty Systems/International:


- 6%


The company continues to forecast that fully diluted earnings per share is expected to be in the range of 53 cents to 63 cents for the 2002 first quarter. For the full-year 2002, the company continues to forecast that fully diluted earnings per share is expected to be in the range of $2.95 to $3.25 based on expected improving economic trends in the second half of the year.


ITW is a $9.3 billion diversified manufacturer of highly engineered components and industrial systems. The company consists of approximately 600 decentralized operations in 43 countries and employs 52,000 people.

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