WHITE PLAINS, N.Y., Oct. 26 /PRNewswire-FirstCall/ -- ITT Corporation
(NYSE: ITT) today reported third quarter 2007 earnings from continuing
As a result of its continued strong performance, ITT is raising its
full-year 2007 earnings per share guidance, excluding special items, to
"This was an exciting quarter for our business, marked by a number of major strategic portfolio moves and transforming customer wins," said Steve Loranger , chairman, president and chief executive officer, ITT Corp. "Through it all, our teams have remained focused on our operating plan and on continuous improvement initiatives, resulting in high-quality results for our shareholders again this quarter."
On September 17 , ITT announced an agreement to acquire EDO Corp.
(NYSE: EDO) for
Also during the quarter, ITT completed the acquisition and began the integration of International Motion Control (IMC), a global leader in the design and manufacture of standard and customized energy absorption, control systems, and hydraulic and pneumatic components.
Loranger noted, "These strategic portfolio moves are enabled by the strong overall performance of our business and are expected to position ITT for continued growth in the future. These significant actions, in addition to the smaller acquisitions we've announced, demonstrate our disciplined approach to creating value for our shareholders by expanding from our strong core businesses and entering attractive adjacent markets."
Investor Call Today
ITT's senior management will host a conference call for investors today at 9:00 a.m. Eastern Daylight Time to review third quarter performance and answer questions. The briefing can be monitored live via webcast at the following address on the company's Web site: www.itt.com/ir.
About ITT Corporation
ITT Corporation (www.itt.com) supplies advanced technology products and
services in several growth markets. ITT is a global leader in water and fluid
transport, treatment and control technology. The company plays a vital role in
international security with communications and electronics products; space
surveillance and intelligence systems; and advanced engineering and services.
It also serves a number of growing markets-including marine, transportation
and aerospace-with a wide range of motion and flow control technologies.
Headquartered in White Plains, N.Y., the company employs approximately 35,000
people and generated
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