(Source: Associated Press/AP Online)
MORRIS TOWNSHIP, N.J. - Honeywell International Inc. says its third-quarter profit fell as sales dropped in all its divisions as key markets in aviation and industrial products continue to struggle.
More than half of the Morris Township, N.J., company's sales are overseas. As a result of its exposure, Honeywell has been hit hard by some of the economy's weakest sectors such as the aerospace, automotive and construction markets, which have been in a prolonged slump.
The company says it earned $608 million, or 80 cents per share, in the latest quarter. That is down 15 percent from $719 million, or 97 cents per share, a year ago.
It says revenue fell 17 percent to $7.7 billion.
Its shares were up 2.3 percent to $39.40 in premarket trading.
A service of YellowBrix, Inc.
