NEW YORK – ITT Industries Inc., a supplier of advanced technology products and services – including its motion and flow control segment, which encompasses the company’s leisure marine business – has raised its 2004 revenue forecast according to a Reuter story Thursday.
Citing a stronger demand for its electronics and fluid products in a securities filing yesterday, ITT said it expects 2004 revenues to rise between 9 percent and 13 percent from the year before, according to Reuters.
ITT reported 2003 revenues of $5.63 billion.
In January, ITT said it expected 2004 revenues of $5.8 billion to $6 billion. Revenue growth is expected to drive operating income up between 15 percent and 24 percent in 2004, the story said.