ITT Corporation reports second-quarter 2014 revenue grew by 9% to $663 million, driven by solid performances in all four business segments across most strategic end markets. Second-quarter revenue in the Industrial Process segment was up 8% to $289 million with organic revenue also up 8%.
Revenue results in ITT also reflect growth in key geographies, including 9% growth in both North America and emerging markets and 7% growth in Europe, as well as 8% overall organic revenue growth.
Second-quarter GAAP earnings from continuing operations increased to $0.44 per diluted share. Adjusted earnings from continuing operations, which excludes special items, increased 18% to $0.60 per diluted share, reflecting strong segment operational performances and a lower effective tax rate, partially offset by increased corporate costs.