Ingersoll-Rand Returns To Profit In 4Q

Manufacturing.Net reports that Ingersoll-Rand, based in Swords, Ireland, had returned a fourth-quarter profit, though revenues slid 10%. Last year’s final quarter was weighted by huge charges related to restructuring and acquisitions, and the company said, it expects continued restructuring to knock a quarter off earnings per share for 2010.

There are, the company said, some signs of recovery in some markets, though U.S. and European commercial construction markets will likely continue to be challenging for much of the year. The company earned $139.4 million for the quarter. It lost $3.29 billion in the prior-year period. Results for the year-ago period included a goodwill impairment charge, one-time acquisition costs and restructuring costs.

Revenue for the period ended Dec. 31 fell 10% to $3.31 billion from $3.67 billion on declining revenue in its industrial technologies, security technologies and climate solutions segments.

For the year, the company posted a profit of $451.3 million. That compares with a loss of $2.62 billion in the previous year. Annual revenue was nearly flat at $13.2 billion.