Strong execution lifts Q3 net income 26%

infomine - mining equipment and supplier news | October 23, 2008 | 5:24 pm
  • Double-digit growth in revenues, EBIT, net income and cash flow
  • EBIT up 25% despite ca. $100-mill. impact from hedging valuation
  • Orders stronger in product businesses; lower large systems orders
  • On target to deliver in line with 2008 growth guidance

Zurich, Switzerland, October 23, 2008 – ABB reported double-digit increases in revenues, earnings before interest and taxes (EBIT), net income and cash flow in the third quarter of 2008 as the company continued to improve its operational performance.

EBIT grew 25 percent to $1.3 billion, including a net expense of approximately $100 million, equivalent to roughly one percentage point of EBIT margin, resulting from the mark-to-market treatment of hedging transactions…..more at ABB.com