October 16, 2006 2:16 PM, EDT

Eaton’s Revenue, Earnings Rise in 3Q

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ehicle parts manufacturer Eaton Corp. on Monday reported increased sales and income in the third quarter.

Eaton earned $248 million or $1.62 a share, a 25% increase compared with $199 million or $1.30 in the same quarter of 2005.

Eaton said its third-quarter net income includes charges related to the integration of acquisitions. Excluding these charges, the company earned $1.65 during the quarter.

Third-quarter sales jumped 13% to $3.12 billion, up from $2.77 billion last year, Eaton said in a statement.

The manufacturer’s truck segment posted sales of $647 million in the third quarter, an 8% increase compared with 2005.

Operating profits for the truck segment totaled $122 million, up from $119 million last year. Operating profits excluding charges related to acquisitions were $123 million.

Alexander Cutler, chief executive officer of Eaton, said North American heavy-duty truck production rose to 98,000 units, its highest 2006 quarterly level and an 11% increase over 2005.

“The heavy-duty truck market should post a strong finish to the year,” said Cutler.

Citing slowing growth rates in its overall and end markets, the Eaton said its third-quarter earnings per share would be $1.45 to $1.54 per share.

The company also lowered its yearly earnings guidance for 2006 to between $6.07 and $6.17 a share.