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United Tech '08 Profit May Fall to Low End of Forecast
Topics:Stock Market | Earnings
Companies:United Technologies Corp
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Diversified U.S. manufacturer United Technologies stands by its 2008 profit forecast, though the strengthening dollar may put its results near the low end of its forecast, a top executive said Wednesday.
"We have obviously been impacted by the euro," said Greg Hayes, chief financial officer of the world's largest maker of elevators and air conditioners.
"We may be towards the middle, even the low end of the range." When United Tech [UTX
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] last month reported third-quarter results it said it looked for full-year profit of $4.90 per share to $4.95 per share.
Analysts, on average, look for $4.94 per share, according to Reuters Estimates.
Copyright 2008 Reuters. Click for restrictions.
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