Honeywell announces sales increase

Technology company Honeywell has reported a first-quarter sales increase of three per cent to $7.8bn, versus $7.6bn in 2009, with earnings down to $0.50 per share versus $0.54 per share in the prior year.

Excluding non-cash pension expense, earnings were up 21 per cent to $0.68 per share – compared to $0.56 per share in the same quarter last year.

Cash flow from operations was $743m, versus $341m in the first quarter of 2009, and free cash flow was up 190 per cent to $673m, compared to $232m in 2009.