United Technologies Corp., parent of Pratt & Whitney Canada, Wednesday posted a 6.3-per-cent decline in fourth-quarter earnings because of restructuring costs and lower civil aerospace revenues. But improvement is expected in 2010 from lower costs and rising revenue from emerging markets.
Earnings were $1.07 billion U.S., or $1.15 a share, down from $1.15 billion or $1.23 a share a year earlier, on sales of $14.1 billion, down 4.5 per cent. Exchange gains added 4 cents a share in the latest period. But restructuring costs totalled 8 cents a share.
UTC, which makes Otis elevators, Sikorsky helicopters, Carrier air-conditioning equipment and a range of high-tech aerospace components, cut 15,000 jobs system-wide last year in response to the global recession and drastic fall in air travel. (more…)
The Handycooler is a personal air conditioner that allows you to stay cool when away from your chilled air conditioned office. The device lets you take cool air with you by the way of evaporative cooling.