logo
Share SHARE
FONT-SIZE Plus   Neg

Honeywell Provides 2013 Outlook; Annuonces Intermec Acquisition - Quick Facts

Honeywell International Inc. (HON) announced the company expects 2013 sales in the range of $39.0 billion-$39.5 billion, and profit per share in a range of $4.75-$4.95. The company reaffirmed its 2012 outlook at the midpoint of previous guidance ranges.

Analysts polled by Thomson Reuters expect the company to report 2013 profit per share of $4.95 on sale of $39.42 billion. Analysts' estimates typically exclude special items.

The company expects 2012 sales of $37.5 billion, and profit per share of $4.47. Analysts expect the company to report profit per share of $4.47 and sales of $37.63 billion in 2012.

Honeywell also announced it has signed a definitive agreement to acquire Intermec (IN), a provider of mobile computing, radio frequency identification solutions and bar code, label and receipt printers for use in warehousing, supply chain, field service and manufacturing environments for $10 per share in cash, or an aggregate purchase price of approximately $600 million, net of cash and debt acquired.

Although the transaction would be dilutive in 2013 by three to four cents, the estimated impact is included in the company's announced 2013 earnings per share guidance range, and Honeywell anticipates Intermec to be accretive in 2014.

Upon completion of the acquisition, Intermec would become part of Honeywell Scanning & Mobility in Honeywell's Automation and Control Solutions business. Intermec employs approximately 2,200 employees and operates more than 65 offices worldwide. The company is headquartered in Everett, Washington.

The transaction, which is subject to the approval of Intermec stockholders, regulatory approvals and customary closing terms and conditions, is expected to close by the end of the second quarter 2013.

Intermec announced that the company is suspending its previously announced search for a permanent Chief Executive Officer, In light of the merger announcement.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
British American Tobacco plc Tuesday said it has agreed to buy the remaining 57.8 percent of Reynolds American Inc. it does not already own in $49.4 billion cash and stock deal. The companies said the deal would create a stronger, truly global tobacco and Next Generation Products company. The British tobacco major currently owns 42.2 percent of Reynolds. Ringling Bros. and Barnum & Bailey Circus, called as the Greatest Show on Earth, is coming to and end after 146 years of live entertainment. The decision reflects higher operating costs, and bigger than expected decline in ticket sales, mainly after the transition of the elephants off the circus. An investigation by Samsung Electronics Co Ltd. has found out that battery caused the fire issues with the abandoned Galaxy Note 7 smartphones, Reuters reported Monday, citing people familiar with the matter. The South Korean conglomerate has concluded the investigation into the explosions that resulted in the massive recall of Galaxy Note 7.
comments powered by Disqus
Follow RTT