Ingersoll Rand announces record first quarter
By SSN Staff
Updated Thu April 27, 2006
HAMILTON, Bermuda--Ingersoll-Rand Company Limited, which operates in the security sector with its Ingersoll Rand Security Technologies division as both an integrator and manufacturer, announced this week first quarter revenues of $2.7 billion. The company called this a "record" amount, as was the reported $253 million in net earnings, representing diluted earnings per share of $.76.
For the Security Technologies division, the company reported eight percent revenue growth over 2005 for the first quarter, to $525 million, helped somewhat by acquisitions and currency fluctuation. The operating margin was 15.2 percent, a one percent increase over 1Q 2005. The company indicated that factors inhibiting further increase were cost increases for nonferrous metals, unfavorable geographic revenue mix and increased investment spending.
The strong start to 2006 caused the company to predict record earnings and revenues for the entirety of 2006, or roughly 16 percent higher earnings per share than 2005.
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