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| ABB posts strong revenue & earnings in Q3 Swiss engineering firm ABB reported double-digit increases in revenues, earnings before interest and taxes (EBIT), net income and cash flow in the third quarter of 2008 as the company continued to improve its operational performance. EBIT grew 25 percent to $1.3 billion, including a net expense of approximately $100 million, equivalent to roughly one percentage point of EBIT margin, resulting from the mark-to-market treatment of hedging transactions. Net income rose 26 percent to $927 million and cash from operations increased to $1.1 billion. Revenues grew 22 percent (local currencies: 16 percent) on the successful execution of the strong order backlog. Orders received increased 7 percent (local currencies: 1 percent) to $8.9 billion. write your comments about the article :: © 2008 Construction News :: home page |