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UTC Says Earnings On Target
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Business New Haven
2/18/2002
By: BNH
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NEW YORK - United Technologies Corp. (NYSE: UTX) outlined 2002 expectations at its annual investor conference February 11, confirming its earlier earnings-per-share estimate of $4.32 for the year, including the adoption of the new FASB goodwill accounting standard.
The company anticipates revenues about level with 2001, and cost-reduction benefits from previous restructuring and process improvement efforts. Available cash flow is targeted in the $2 billion range for 2002, with acquisitions of $1 billion or more and share repurchases of $400 million or more.
Based in Hartford, Connecticut, UTC provides a broad range of high technology products and support services to the building systems and aerospace industries.
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