Eaton Corporation
Eaton Reports First Quarter Net Income Per Share of $0.91
Published in Patient Care Law Weekly, May 9th, 2010
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) announced net income per share of $0.91 for the first quarter of 2010. Adjusting for the non-cash tax charge related to Medicare Part D due to the new U.S. health care law, net income per share was $1.05. This compares to a net loss per share of $0.30 in the first quarter of 2009. Sales in the quarter were $3.1 billion, 10 percent above the same period in 2009. Net income was $155 million compared to a loss of $50 million in 2009.
Net income in both periods included charges for integration of acquisitions. Before acquisition integration charges, operating income per share in the first quarter of 2010 was...
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