SOARING AEROSPACE: United Technologies Corp. reports its first quarter revenue rose 16 percent to $14.4 billion, crediting its 2012 purchase of aerospace parts maker Goodrich Corp. Excluding the Goodrich acquisition, sales declined 2 percent from a year ago. The company cited Europe's weak economy and weak commercial aerospace repairs and maintenance.

GROUNDED: Automatic federal budget cuts that took effect last month are beginning to have an impact on United Technologies' military business, with aerospace repairs and maintenance down 10 percent in the quarter. Fighter jets also are standing down as exhibitions are canceled. Chief Financial Officer Greg Hayes said he's concerned about furloughs by air traffic controllers that could drive up commercial airline costs. He says that should be a "relatively small impact" on United Technologies.

FALLING DEBT: United Technologies is raising significant amounts of cash from divestitures as it leaves non-essential businesses such as energy and complies with federal competition rules. It said it will pay down $2 billion of debt this year, up from an earlier $1 billion estimate.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel