More on ITW Q4: Expects Q1 revenue growth

|By:, SA News Editor

Illinois Tool Works (ITW +1.2%) net profit more than halved to $408M from $979M a year earlier, which included the company's divested Decorative Surfaces business.

The EPS beat was due to strong contributions from ITW's enterprise initiatives as well as improving organic revenue growth.

Expects Q1 adjusted EPS of $0.93-1.01 and revenue growth of 3-6% from $4.01B in Q1 2013.

Reiterates 2014 outlook for EPS of $4.30-4.50 and revenue growth of 2-4%.

Automotive OEM organic revenues +11.2%, Food Equipment +4.2%. (PR)