United Technologies reports fourth quarter 2011 results

Connecticut-based company United Technologies has reported fourth-quarter 2011 earnings per share of $1.47 (£0.94) and net income attributable to common shareowners of $1.3bn, up 12 per cent and 11 per cent, respectively, from the previous year.

Sales of $15bn for the quarter were one per cent above prior-year sales, including two points of organic growth and one point of net divestitures.

Cash flow from operations was $2bn and capital expenditures were $378m in the quarter, while the operating margin was 14.7 per cent.

Adjusted for restructuring costs and net one-time items, segment operating margin of 15.4 per cent was 20 basis points higher than the prior year.

Research and development increased year over year by $95m to reach a total of $552m.