Honeywell said sales in the division rose 13 percent, driven by
the acquisition of energy management systems maker Elster
Solutions for $5.1 billion in December.
The company's automation and control solutions business, its
second biggest, makes fire safety and industrial safety products
and controls and displays for heating and cooling systems.
Honeywell said sales in its aerospace division, its biggest
business by revenue, rose 3 percent, helped by a rise in repair
and overhaul activities and higher sales of turbochargers for
Net income attributable to Honeywell rose to $1.19 billion, or
$1.53 per share, in the first quarter ended March 31 from $1.12
billion, or $1.41 per share, a year earlier.
Net sales rose 3.4 percent to $9.52 billion.
Analysts had expected first-quarter earnings of $1.50 per share
on revenue $9.37 billion.
Honeywell raised its full-year earnings to $6.55-$6.70 per
share, compared with its previous estimate of $6.45-$6.70.
Analysts on average expect 2016 earnings of $6.61 per share,
according to Thomson Reuters I/B/E/S.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)
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