United Tech CFO sees Europe a drag on 2013 revenue

United Technologies CFO sees 2013 revenue crimped due partly to weak European economy

Associated Press

HARTFORD, Conn. (AP) -- The chief financial officer of United Technologies Corp. says revenue growth in 2013 will likely be crimped due partly to Europe's weak economy.

CFO Greg Hayes told analysts on Thursday that the Hartford, Conn., aerospace giant backs its 2013 earnings per share estimate of $5.85 to $6.15 per share.

But he said the company expects revenue growth in the middle of its December forecast for 3 percent to 5 percent growth, not accounting for acquisitions, rather than at the high end.

United Technologies said in December it expects revenue, including its acquisition of aerospace parts maker Goodrich Corp., to be up 10 percent to 12 percent to between $64 billion and $65 billion.

Analysts surveyed by FactSet expect earnings of $6.11 per share on revenue of $64.53 billion.

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