ITT Raises Financial Guidance

ITT Corporation (NYSE: ITT) released the following financial statement:

“[The firm] reported 2010 third-quarter revenue of $2.6 billion and net income of $145 million, or $0.78 per share. Income from continuing operations was $12 million, or $0.07 per share. Excluding the impact of special items, income from continuing operations for the quarter was $200 million, or $1.08 per share, representing 6 percent year-over-year growth.

“Our outstanding results this quarter reflect strong revenue growth in our commercial businesses and excellent operating performance by our teams across the company, ” CEO Steve Loranger said. “Our focused productivity and cost management programs more than offset the headwinds of higher commodity pricing and foreign exchange. We are seeing excellent order intake in our Defense & Information Solutions group, with some key strategic wins that we believe position us well for the future. Our Fluid Technology and Motion & Flow Control markets continue to strengthen across the majority of our product categories and geographic regions, and we continue to see strong performance in emerging markets.”

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