AlliedSignal sees 15% higher Q2 earnings

18 June 1998 23:50  [Source: ICIS news]

HOUSTON (CNI)--AlliedSignal said Thursday it expects to report 15% increased earnings of 60 cent/share for the second quarter ending 30 June.

AlliedSignal chairman and chief executive Lawrence Bossidy said that he expects his company to also achieve 15% operating margins by 2000, up from 11.4% in 1997.

He added that the Morris Township, New Jersey company's drive for growth will remain a key objective despite the relaxation of acquisition initiatives resulting from its recently announced stock repurchase plan.

He said growth is expected to come from three sources:

• General growth of many of the markets in which the company competes;
• Aggressive gains in the company's share of these markets through intensive marketing efforts as well as product quality and cost advantages; and
• New product offerings.

AlliedSignal also said that as a result of its reorganisation late last year, it would begin reporting results in five business segments: aerospace systems, speciality chemicals & electronic solutions, turbine technologies, performance polymers and transportation products.

By: Mary Ann Tawasha
+1 713 525 2653

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