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| Ingersoll Rand's revenues decrease by 19% in third quarter 2009 Ingersoll-Rand plc, a maker of climate control systems, announced that total reported revenues decreased by 19% for the third quarter of 2009, compared with the 2008 third quarter, and diluted earnings per share (EPS) from continuing operations were at the upper end of prior guidance. The company reported net earnings of $216.6 million, or EPS of $0.65, for the third quarter of 2009. This compares to net earnings for the 2008 third quarter of $227.7 million, or EPS of $0.70, which included EPS of $0.72 from continuing operations and $(0.02) from discontinued operations. The company's reported revenues decreased by 19% to $3,482.7 million compared with revenues of $4,313.2 million for the 2008 third quarter. Total revenues declined by 19%, including a negative currency impact of 2%, compared with 2008. Reported U.S. revenues decreased by 15%, and revenues from international operations declined by approximately 26% (down by 22% excluding currency), with the sharpest year-over-year declines registered in Europe. Reported operating income for the third quarter was $318.3 million compared with $347.4 million for the third quarter of 2008. Third-quarter 2009 included approximately $10 million of pre-tax costs related to restructuring. write your comments about the article :: © 2009 Construction News :: home page |