Honeywell expects revenue growth in 2011
December 16, Beijing time, Honeywell International (HON) stated that due to the improvement in the performance of various businesses, it is expected that the revenue will increase in fiscal 2011. The company expects earnings of $3.50-3.70 per share in fiscal 2011. Analysts surveyed by Thomson Reuters on average expected the company's next fiscal year earnings of $ 3.63. Revenue is expected to increase by 6-9% to 35-36 billion U.S. dollars. The average analyst estimate is $33.09 billion. The company said that its performance forecast includes an existing pension expense, but does not include an accounting-related market value-checking expense. Dave Cote, CEO of Honeywell, said: “In 2010, our short-cycle business, such as turbocharger and general industrial products business, rebounded strongly at a low level in 2009. The cycle is longer. The business, including commercial aviation, ACSSolutions, and UOP refining technology, showed signs of substantial improvement, with double-digit growth in order rates."
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