MORRIS TOWNSHIP, N.J., Dec. 13 /PRNewswire-FirstCall/ -- Honeywell (NYSE:HON) announced today that it expects 2008 sales of $36.1-36.7 billion, up 5-7 percent, and earnings per share of $3.65-3.80, an increase of 16-21 percent versus 2007. Cash flow from operations is expected to be $4.1-4.3 billion and free cash flow (cash flow from operations less capital expenditures) is expected to be up 7-13% to $3.2-3.4 billion. The company also reaffirmed its previously stated 2007 financial guidance.
"Our strong financial results in 2007 are attributable to our great positions in good industries," said Honeywell Chairman and Chief Executive Officer Dave Cote. "Favorable macro trends supported organic growth and productivity improvement initiatives drove greater efficiencies throughout the company."
"While there is greater uncertainty in the outlook for the global economy in 2008, we're confident in our ability to deliver another great year," concluded Cote. "Our businesses are well positioned globally and we expect that favorable macro trends will continue, helping us to build on our track record of delivering consistent strong financial performance."
Honeywell will discuss its results during its investor conference call and Webcast starting at 8:00 a.m. EST today. To participate on the conference call, please dial (706) 643-7681 a few minutes before the 8:00 a.m. EST start. Please mention to the operator that you are dialing in for Honeywell's investor conference call. The live Webcast of the investor call will be available through the "Investor Relations" section of the company's Website www.honeywell.com/investor. Investors can access a replay of the conference call from 11:00 a.m. EST, December 13, until midnight, December 20, by dialing (706) 645-9291. The access code is 23303012.
Honeywell International is a $34 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com.
This release contains certain statements that may be deemed "forward- looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.
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