(Reuters) - Diversified U.S. manufacturer Honeywell International Inc reported lower-than-expected quarterly revenue, hurt by the sale of its friction materials business and a strong dollar.
The company also cut its full-year revenue forecast to $39 billion-$39.6 billion from $40.5-$41.1 billion earlier, below the average analyst estimate of $40.52 billion, according to Thomson Reuters I/B/E/S.
HONEYWELL (HON.NY)s shares were down nearly 1 percent at $103 in premarket trading on Friday.
Sales in the company's aerospace business ? its largest ? fell 6 percent to $3.61 billion, while sales at its automation and controls business fell 3 percent.
The Morristown, New Jersey-based company makes aircraft engines, cockpit electronics and climate control systems.
Honeywell sold its friction materials business to Federal Mogul last year for about $155 million.
Revenue for the first quarter fell nearly 5 percent to $9.21 billion, missing the average analysts estimate of $9.48 billion.
Net income attributable to Honeywell rose to $1.12 billion, or $1.41 per share, in the first quarter ended March 31, from $1.02 billion, or $1.28 per share, a year earlier.
Up to Thursday's close, the company's shares had risen 4 percent this year.
(Reporting by Rohit T. K. in Bengaluru; Editing by Simon Jennings)
