Home Aviation UTC reports increased sales 3Q

UTC reports increased sales 3Q


United Technologies Corp. released its third-quarter net sales today, which totaled $15.04 billion, a 7 percent increase from last year’s $14.24 billion.

The Hartford-based commercial aerospace company reported $1.42 billion, or $1.56 per share, in net income attributable to common shareholders this quarter, up from $1.32 billion, or $1.37 per share, in 2011.

With a slow economic recovery in the United States and uncertainty abroad, UTC expects sales from 2012 to reach $58 billion, which is on the low end of what it previously anticipated.

Sikorsky Aircraft Corp., a subsidiary of UTC headquarted in Stratford, reported $1.65 billion in net sales this quarter, down from $1.88 billion in 2011’s third quarter.

The company made two acquisitions in the third quarter, including Goodrich Corp. in Charlotte, N.C. for $18.4 billion and Rolls-Royce’s share of the International Aero Engines joint venture for $1.5 billion.

UTC plans to increase its restructuring investment this year from $500 million to $600 million, due to challenging economic environments.

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