ITT Rolls Out Fiscal Stats

ITT Corporation (NYSE: ITT) reported the following financial news:

“2010 fourth-quarter revenue of $3 billion and income from continuing operations of $272 million, or $1.46 per share. Excluding special items, income from continuing operations was $253 million, or $1.36 per share, reflecting year-over-year growth of 42 percent.

“For the full year 2010, ITT reported revenue of $11 billion and income from continuing operations of $654 million, or $3.53 per share. Excluding special items, income from continuing operations was $818 million, resulting in a record $4.41 per share, an 18 percent increase over 2009. For the full year, free cash flow was $937 million, a 104 percent conversion of net income from continuing operations adjusted for non-cash special items.

“We are very pleased with the exceptional strategic and operating performance delivered by our teams across the globe in 2010, ” CEO Steve Loranger said. “We realized outstanding productivity across our businesses, while driving overall top-line growth, generating very strong free cash flow and investing for our future. This record-breaking year provides momentum for continuing strong performance in 2011 and sets a solid foundation for our transformation into three independent publicly traded companies by year end.”

Check Also

METECS

MacLean Engineering Books $100M NASA Simulation Support Contract

MacLean Engineering & Applied Technologies has secured a potential five-year, $100M contract to help NASA develop integrate, validate, analyze, document, maintain and troubleshoot a Trick-based simulation environment.

Battelle

Battelle Gets $140M SOCOM Contract to Build Nonstandard Commercial Vehicle

Battelle has been awarded a $140M contract modification to produce another nonstandard commercial vehicle platform for U.S. Special Operations Command to address an “emergent” requirement.