IR Security division reports revenue growth
February 13, 2003
HAMILTON, Bermuda - Revenues for Ingersoll-Rand Co.Ã¢â‚¬â„¢s Security and Safety Sector rose more than six percent to $387.7 million for the fourth quarter of 2002, with growth particularly strong in the electronic access control division. Security revenues rose to more than double compared with last yearÃ¢â‚¬â„¢s numbers and the acquisition of Electronic Technologies Corp. in the second quarter.
Overall, IR reported net earnings for the fourth quarter of 2002 of $202.9 million, or diluted net earnings per share of $1.19, excluding charges of related to restructuring and productivity investment.