ANGELES Acquisitions helped United Technologies
Corp. (UTC) boost its second-quarter net income 17.5 percent,
and the company sees organic growth making a larger
contribution in the second half.
attributable to common shareholders totaled $1.56 billion for
the quarter ended June 30, up from $1.33 billion in the same
period last year, on sales that rose 15.9 percent to $16.01
billion from $13.81 billion, according to the Hartford,
Conn.-based manufacturer of aerospace engines and components,
as well as industrial products.
While the sales growth
was attributed to acquisitions, including last years
$16.5-billion buy of Charlotte, N.C.-based landing gear and
components builder Goodrich Corp. (
amm.com, Sept. 22, 2011), UTC said its operations
are poised to resume expansion in the balance of 2013.
momentum has UTC well-positioned for a return to organic growth
in the second half of the year," chairman and chief executive
officer Louis Chênevert said.
Orders for large
commercial engine spares rose 65 percent at UTCs Pratt
& Whitney Co. (P&W) division in East Hartford, Conn.,
including its share in the International Aero Engines (IAE)
venture with Germanys MTU Aero Engines GmbH and
Tokyo-based Japanese Aero Engine Corp. P&Ws operating
income rose 32.8 percent to $567 million in the quarter.
UTC Aerospace Systems,
which includes the former Goodrich, saw commercial spares rise
4 percent. Goodrich helped the unit more than double quarterly
operating income to $499 million.
New equipment orders
during the quarter at the companys Otis Elevator unit
grew 23 percent over a year earlier, paced by a 39-percent
increase in China.
Goodrich and IAE
"continue to exceed expectations and create new opportunities
for sustainable long-term organic growth," Chênevert
First-half net income
of $2.83 billion rose 70.4 percent from $1.66 billion a year
earlier on sales that gained 15.9 percent to $30.41 billion
from $26.22 billion.