Illinois Tools Works Inc. (NYSE: ITW), Glenview, IL, reported operating revenue decreased 13% for the three months ended Nov. 30, 2009. The decline included a 15% decrease in base revenues.
Acquisitions contributed 2 percent to revenues while currency translation was essentially flat in the three-month period. For the most recent three-month period, base revenues improved compared to the August-October 2009 period mainly due to easier November comparisons and ongoing improvement in discrete end markets, particularly automotive and construction.
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:
Industrial Packaging: -18.3%
Power Systems and Electronics: -25.4%
Food Equipment: -10.3%
Construction Products: -7.6%
Polymers and Fluids: -10.6%
Decorative Surfaces: -13.9%
All Other: -11%
With $17.1 billion in 2008 revenues, ITW is a multinational manufacturer of industrial products and equipment.