EXHIBIT 99.1 | |||||
INGERSOLL-RAND COMPANY LIMITED | |||||
Consolidated Income Statement | |||||
First Quarter | |||||
(In millions except per share amounts) | |||||
UNAUDITED | |||||
Three Months | |||||
Ended March 31, | |||||
2003 | 2002 | ||||
Revenues | $ 2,198.7 | $ 2,017.0 | |||
Cost of goods sold | 1,689.5 | 1,530.0 | |||
Selling & administrative expenses | 343.8 | 325.9 | |||
Restructuring charges | - | 10.2 | |||
Operating income | 165.4 | 150.9 | |||
Interest expense | (50.1) | (59.2) | |||
Other income/(expense) | (6.6) | (9.9) | |||
Earnings before taxes | 108.7 | 81.8 | |||
Provision for taxes | 15.2 | 11.3 | |||
Earnings from continuing operations | 93.5 | 70.5 | |||
Discontinued operations, net of tax | 59.7 | 10.4 | |||
Net earnings before cumulative effect | |||||
of change in accounting principle | 153.2 | 80.9 | |||
Cumulative effect of change in | |||||
accounting principle, net of tax | - | (634.5) | |||
Net earnings/(loss) | $ 153.2 | $ (553.6) | |||
Basic earnings per share | |||||
- Continuing operations | $ 0.55 | $ 0.42 | |||
- Discontinued operations | 0.36 | 0.06 | |||
- Change in accounting principle | - | (3.77) | |||
$ 0.91 | $ (3.29) | ||||
Diluted earnings per share | |||||
- Continuing operations | $ 0.55 | $ 0.42 | |||
- Discontinued operations | 0.35 | 0.06 | |||
- Change in accounting principle | - | (3.74) | |||
$ 0.90 | $ (3.26) | ||||
Average number of common | |||||
shares outstanding: | |||||
Basic | 169.3 | 168.3 | |||
Diluted | 170.0 | 169.6 | |||
SEE ATTACHED RELEASE FOR ADDITIONAL INFORMATION |
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Filed: 17 Apr 03, 12:00am