Diversified high-tech manufacturer Honeywell International Inc. said Friday its fourth-quarter profit rose 14 percent, led by strong sales in its aerospace and automation businesses.
Net income grew to $585 million, or 72 cents per share, for the three months ended Dec. 31 from $514 million, or 61 cents per share, in the year-ago period.
Revenue also rose 14 percent to $8.28 billion from $7.28 billion, with automation and control services sales leading the way with an 18 percent increase to $3.05 billion.
Analysts surveyed by Thomson Financial expected earnings per share of 72 cents per share on $8.1 billion in revenue.
"We expect to build on our successful track record in 2007," said Chairman and CEO Dave Cote. "Despite our forecast for modest softening in global economic conditions, we believe that favorable macro-trends and demand for differentiated technologies, products and services provide opportunities for sustained growth at Honeywell."