NEW YORK (Reuters) - Diversified manufacturer Ingersoll-Rand Co Ltd reported a quarterly profit in line with recently lowered forecasts on Friday.
Net earnings fell to $227.7 million, or 70 cents per share, compared with $266.6 million, or 92 cents per share a year earlier, when results included earnings from discontinued operations.
Earnings from continuing operations were 99 cents per share, excluding costs related to its acquisition of Trane. matching analyst forecasts, according to Reuters Estimates.
Analysts cut estimates earlier this month after the company warned about profits, citing weak North American and Western European markets and a strong U.S. dollar.
Total revenue almost doubled to $4.3 billion, also meeting forecasts. Assuming the same portfolio of assets in both 2007 and 2008, sales were up about 2 percent.
Operating profits grew in Ingersoll's climate technologies and security technologies segments, but profit was lower in its industrial technologies segment.
The company expects economic conditions to remain a challenge for the foreseeable future but reaffirmed its recently-lowered full-year profit forecast, which calls earnings of $3.35 to $3.55 per share.
(Reporting by Nick Zieminski; Editing by Derek Caney)
