Revenue fell to $14.30 billion from $14.98 billion a year
Net income attributable to common shareholders rose to $3.28
billion from $1.47 billion.
UTC reported a loss of 30 cents per share from continuing
operations, compared with year-earlier earnings of $1.41.
The company reported adjusted earnings from continuing
operations of $1.53 per share, down 8 percent from $1.67 a year
ago, due to a 19-cent-per-share impact of foreign exchange
translation. Analysts on average had been expecting $1.52,
according to Thomson Reuters I/B/E/S.
The revenue drop reflected a 5 percent decline in new orders at
UTC's climate control and security business. New orders at Otis
rose 2 percent, while Pratt's aftermarket sales jumped 11
percent and UTC aerospace sales rose 8 percent, the company
UTC stuck with the outlook at gave investors a month ago, saying
it expected 2016 adjusted earnings per share of $6.30 to $6.60,
with sales at between $56 billion and $58 billion.
For 2015, UTC's sales totaled $56.1 billion, a decline of 3
(Reporting by Ankit Ajmera in Bengaluru and Alwyn Scott in
Seattle; Editing by Sriraj Kalluvila and Lisa Von Ahn)
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