* Profit of $1.04/shr includes 25 cents in charges
* Revenue up 14 percent in quarter
* Holds 2013 forecast steady
Jan 23 United Technologies Corp reported
a 26 percent decline in profit, reflecting large restructuring
charges at the end of a year that saw the company close its
largest-ever acquisition and sell several small units.
The diversified U.S. manufacturer said on Wednesday
fourth-quarter earnings from continuing operations fell to $945
million from $1.28 billion a year earlier. Per-share profit from
continuing operations came to $1.04, down from $1.42 a year
The results for the just-ended quarter included 25 cents per
share of restructuring charges and other one-time items.
Revenue at United Tech, the world's largest maker of
elevators and air conditioners, rose 14.4 percent to $16.44
billion from $14.38 billion a year earlier.
The company, which also makes Pratt & Whitney jet engines
and Sikorsky helicopters, did not change its 2013 profit
forecast for earnings of $5.85 to $6.15 per share.
Hartford, Connecticut-based United Tech last year closed its
$16.5 billion takeover of aircraft components maker Goodrich
Corp and sold or are selling units that make products including
wind turbines, fuel cells and industrial pumps.
United Tech shares are up 12 percent over the past year,
outpacing the 9 percent rise of the Dow Jones industrial average