ITT Reports Solid 2008 Fourth Quarter and Full-Year Results
ITT's Fluid Technology segment reported fourth quarter 2008 revenue of $984 million, roughly flat on a year-over-year basis, with solid organic revenue growth of seven percent, offset by the negative impact of foreign currency exchange. Fourth quarter segment operating income was $96 million, which is down 24 percent from the comparable prior year period due primarily to higher costs associated with aggressive restructuring activity during the quarter.
Source: ITT
