Eaton Corporation (Eaton Corporation) recently said that the company's operating income for the first quarter of 2011 increased from $ 3.1 billion last year to $ 3.8 billion, an increase of 22.6%.
Eaton said that in the first quarter, the company’s truck parts business had revenue of US$576 million, up 27.2% from the US$453 million in the first quarter of 2010. Revenue from its automotive components business increased by 72 million U.S. dollars to 446 million U.S. dollars, an increase of 19.3 percent year-on-year from 374 million U.S. dollars in the same period of last year.
Alexander M. Cutler, Eaton’s chairman and chief executive officer (CEO), said: “Our growth momentum was strong in the first quarter, with profits up 14% from the first quarter of 2010 and sales up 23% year-on-year.â€
The company said its first-quarter net profit rose to US$287 million (83 cents per share) from US$155 million (46 cents per share) in the same period last year.
In addition, Eaton also raised its 2011 fiscal year earnings forecast by 15 cents to 3.66-3.96 US dollars. The average analyst estimate is $3.80.
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