Summary Box: Eaton 3Q profit jumps

AP News
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Posted: Oct 20, 2010 3:55 PM

RISING SALES: Diversified manufacturer Eaton Corp. reported a 39 percent surge in its third-quarter profit as core sales rose. The company is running ahead of performance forecasting despite the still-struggling nonresidential construction sector.

DEVELOPING NATIONS: Twenty-five percent of quarterly revenue came from developing countries, including China, India and parts of South America, the Middle East and eastern Europe. The company makes drivetrain and powertrain systems for the auto industry, electrical components for power systems and fuel, hydraulics and pneumatic systems for the aviation industry.

NEW FORECAST: Reflecting the rosier outlook, the company raised its full-year earnings guidance by 10 percent. Eaton expects fourth-quarter income per share of $1.50 to $1.60.