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Illinois Tool Works Inc. (NYSE: ITW), Glenview, IL, reported third quarter sales of $4.5 billion, a decrease of 1.7 percent from the same period a year ago. Currency translation negatively impacted revenues by 4.1 percent, largely based on the weaker Euro.
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Organic sales for the quarter grew 0.9 percent, with North American organic revenues increasing 3.9 percent and international organic revenues declining 2.7 percent. Profit rose 3.4 percent.
Sales for the Power Systems and Electronics segment increased 4.6 percent in the quarter. Segment organic revenues grew 4.5 percent. Organic revenues for electronics grew 10.5 percent. Worldwide welding revenues increased 1.9 percent organically, with North American welding growing 4.6 percent and international welding decreasing 5.6 percent.
For the first nine months, sales for the ITW were $13.7 billion, 1.8 percent higher than the prior-year period. Profit increased 16.1 percent to $1.9 billion.