United Technologies announces second-quarter results

US conglomerate United Technologies has reported second-quarter 2011 earnings per share of $1.45 (£0.90) and net income attributable to common shareowners of $1.3bn, up 21 per cent and 19 per cent, respectively, over same period a year ago.

Sales of $15.1bn for the quarter were nine per cent above the prior year with six points of organic growth and four points of favourable foreign currency translation, partially offset by one point of net divestitures.

Research and development costs increased year over year by $67m to $526m.

Cash flow from operations was $1.3bn and capital expenditures were $210m in the quarter.