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
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