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UTC Posts Strong Earnings On Meager Sales Growth

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By Calvin Biesecker United Technologies [UTX] yesterday reported strong third quarter earnings on just a slight sales gain as ongoing restructuring initiatives to shed costs led to record operating segment margin. Net income increased 13 percent to $1.2 billion, $1.30 earnings per share (EPS), from $1.1 billion ($1.14 EPS) a year ago, topping consensus estimates by two cents. Sales edged up a percent to $13.5 billion from $13.4 billion, as a three percent increase in organic growth was partially offset…

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