IR Security division reports revenue growth

SSN Staff  - 
Thursday, February 13, 2003

February 13, 2003

HAMILTON, Bermuda - Revenues for Ingersoll-Rand Co.’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 year’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.