BOSTON (Reuters) - Diversified manufacturer Honeywell International Inc reported a 2.6 percent rise in quarterly earnings as years of cost-cutting efforts ahead of the current global recession helped protect profit margins.
The world's largest maker of cockpit electronics said on Friday that fourth-quarter net income came to $707 million, or 97 cents per diluted share, compared with $689 million, or 91 cents per share, a year earlier.
Revenue fell 6.1 percent to $8.7 billion.
The company held its 2009 profit forecast steady.
Honeywell, which also makes thermostats and other equipment to manage large buildings, last month warned that 2009 profit would fall as the recession pounds its construction, aviation and automotive end markets.
Shares of the Morris Township, New Jersey-based company have fallen about 44 percent over the past year, a slightly more modest decline than the 48 percent decline of the Standard & Poor's capital goods industry group <.GSPIC>.
(Reporting by Scott Malone; Editing by Lisa Von Ahn)
