Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, January 23, 2013

United Tech Q4 profit down after restructuring charges, (NYSE: UTX)

United Technologies Corp reported a 26 percent decline in profit, reflecting large restructuring charges at the end of a year that saw the company close its largest-ever acquisition and sell several small units.The diversified U.S. manufacturer said on Wednesday fourth-quarter earnings from continuing operations fell to $945 million from $1.28 billion a year earlier. Per-share profit from continuing operations came to $1.04, down from $1.42 a year earlier.The results for the just-ended quarter included 25 cents per share of restructuring charges and other one-time items.Revenue at United Tech, the world's largest maker of elevators and air conditioners, rose 14.4 percent to $16.44 billion from $14.38 billion a year earlier.

United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX remained unchanged at $87.47. In the past year, the shares have traded as low as $70.71 and as high as $87.50. On average, 4034040 shares of UTX exchange hands on a given day and today's volume is recorded at 120.