Eaton’s 4Q Profit Rises; Sales Hit Record $2.8 Billion

January 23, 2006 8:40 AM, EST

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ehicle parts maker Eaton Corp. said Monday its fourth-quarter profit rose 15% from the previous fourth quarter.

Eaton’s profit rose to $210 million or $1.38 a share, from $183 million or $1.16 a year earlier. Sales rose 7.8% to a record $2.8 billion, the company said in a statement.

For the full year, Eaton earned $805 million or $5.23 a share, up from $648 million or $4.13 a share. Sales rose 13% to $11.1 billion.

The earnings exceeded the company’s projections that it would earn $1.25 to $1.35 a share for the quarter and $5.10 to $5.20 per share for the year.

The company’s truck segment posted sales of $549 million for the quarter, up 10% from a year earlier. Operating profit for the quarter was $105 million.

Eaton said it expects its profit will be $1.20 to $1.30 a share for the first quarter and $5.75 to $6.05 for the year.