(Reuters) - Diversified U.S. manufacturer Honeywell International Inc forecast a fiscal 2013 profit mostly below estimates, partly because of a charge from its Intermec Inc acquisition announced on Monday, and said it expected slow economic growth next year.
Chief Executive Officer Dave Cote , who is known for his strong views on the perils of the "fiscal cliff," did not mention it as a reason for the weaker-than-expected forecast in a statement on Monday morning.
The company, whose many industrial products include cockpit electronics and automotive turbochargers, said it would buy mobile computing device maker Intermec for $600 million, or $10 per share.
Shares of Honeywell fell 0.4 percent to $61.72 in morning trading.
Honeywell said the deal, which offers Intermec shareholders a 25 percent premium from Friday's closing stock price, would hurt 2013 earnings by 3 cents to 4 cents per share.
It forecast a 2013 profit of $4.75 to $4.95 per share, excluding items, while analysts on average expect $4.95, according to Thomson Reuters I/B/E/S.
Honeywell said it expected revenue of $39.0 billion to $39.5 billion for 2013, which compares with analysts' expectations of $39.42 billion.
"While Intermec strengthens our core scanning and mobile computing business, it opens up entirely new opportunities in RFID (radio frequency identification), voice solutions and barcode and receipt printing segments that we currently don't serve," said Roger Fradin, CEO of Honeywell's automation and control products unit.
Shares of Intermec rose 23 percent to $9.80.
(Reporting by Sayantani Ghosh in Bangalore; Additional reporting by Ernest Scheyder in New York; Editing by Roshni Menon and Lisa Von Ahn)
Blog List
-
Kaley Cuoco Shows Off Fit Physique In Skin-Revealing Yoga Outfit - By Suzy Byrne Kaley Cuoco leaving yoga class in L.A. on Monday. (X17online.com)Kaley Cuoco gave new meaning to hot yoga on Monday when she emerged from cla...11 years ago
Pageviews
Popular Posts
-
Mashable's Anita Li contributed to this report from Toronto. Research in Motion , maker of the once-treasured but now beleaguered BlackB...
-
1. Dog Playing Keyboard Piano What this dog lacks in finesse, it makes up for in enthusiasm. Click here to view this gallery. [More from Ma...
-
Rufus, a Sussex spaniel, at Westminster (Holly Bailey/Yahoo News) One in a series on show dogs and their owners. NEW YORK Mary Jo Marsh reme...
-
WASHINGTON (Reuters) - The U.S. Federal Communications Commission has cleared the way for wider adoption of in-flight Internet services, aim...
-
NEWTOWN, Conn. (AP) The grief will not end. Yet the healing must begin. So as the shock of Newtown's horrific school shooting starts to ...
-
WASHINGTON (Reuters) - Frustrated by their inability to wring more "fiscal cliff" concessions out of President Barack Obama , ...
-
Amazon s ( AMZN ) first Kindle Fire took the holidays by storm last year. Following a white-hot debut, Amazon s slate had re...
-
Windows 8 Windows 8 tablets that were set to be equipped with a new, energy-efficient chip from Intel ( INTC ) are reportedly...
-
NEW YORK (AP) The Douglas name first with patriarch Kirk and later with son Michael has always meant gold for Hollywood. But dra...
-
One of the main complaints some conservatives have against immigration reform is that a path to citizenship for illegal immigrants would cre...