ITW Reports Operating Revenue Growth of 10 Percent for Three Months Ended February 28, 2010; Company Revises First Quarter 2010 Earnings Forecast Range to $0.52 to $0.60

GLENVIEW, Ill., March 15 /PRNewswire-FirstCall/ -- Illinois Tool Works Inc. (NYSE: ITW) today reported a total Company operating revenue increase of 10 percent for the three months ended February 28, 2010 versus the year-ago period. Base revenues contributed 2 percent to revenue growth in the three month period. In addition, acquisitions and currency translation added 2 percent and 6 percent to revenue growth, respectively. The improvement in base revenue was largely due to increased production by the global automotive manufacturers as well as more modest improvement in the industrial packaging and polymers and fluids end markets.

On a segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below.

After two months of results in the 2010 first quarter, the Company's revised first quarter 2010 diluted income per share from continuing operations is estimated to be in a range of $0.52 to $0.60 and assumes a first quarter revenue growth forecast range of 13 percent to 15 percent. For full-year 2010, the Company is forecasting diluted income per share from continuing operations to be in a range of $2.43 to $2.93. The 2010 full-year forecast assumes a total revenue growth range of 10 percent to 14 percent.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitations, statements regarding operating revenues, end markets, diluted income per share from continuing operations, and the Company's related forecasts. These statements are subject to certain risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated. Important factors that could cause actual results to differ materially from the Company's expectations are set forth in ITW's Form 10-K for 2009.

With $13.9 billion in 2009 revenues, ITW is a multinational manufacturer of a diversified range of value-adding and short lead-time industrial products and equipment. The Company consists of approximately 840 business units in 57 countries and employs approximately 59,000 people.

SOURCE Illinois Tool Works Inc.