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UPDATE 1-Illinois Tool sales off 18 pct in last 3 months

Mon Nov 16, 2009 8:31am EST

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* Operating revenue down 18 pct

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* Holds Q4 EPS target steady at $0.54 - $0.66

NEW YORK, Nov 16 (Reuters) - Diversified U.S. manufacturer Illinois Tool Works Inc (ITW.N) reported on Monday an 18 percent decline in operating revenue for the three months ended Oct. 31 but affirmed its fourth-quarter profit forecast.

Operating revenue at its power systems and electronics operations posted the steepest revenue decline, at 31.8 percent.

The Glenview, Illinois-based company forecast fourth quarter 2009 income from continuing operations in a range of 54 cents per share to 66 cents per share.

Illinois Tool regularly reports trailing three-month sales. (Reporting by Helen Chernikoff, editing by Gerald E. McCormick)

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