Eaton’s Net Income Down 36% in 4Q
Jan 26, 2009 1:13 PM
Eaton Corporation today announced that net income was $163 million in the fourth quarter, compared to $256 million in the same period in 2007 -- a reduction of 36 percent. Net income per share was $.98, a decrease of 43 percent from net income per share of $1.71. Sales in the quarter were $3.5 billion, 3 percent above the same period in 2007.
Net income in both periods included charges related to acquisition integration. Before acquisition integration charges, operating earnings per share in the fourth quarter of 2008 were $1.08 compared to $1.79 per share in the fourth quarter of 2007, a decrease of 40 percent. Operating earnings for the fourth quarter of 2008 were $180 million compared to $269 million in 2007, a reduction of 33 percent.
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