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ITT Corporation designs and manufactures engineered critical components and customized technology solutions for energy infrastructure, electronics, aerospace, and transportation industries. The company operates in four segments: Industrial Process, Motion Technologies, Interconnect Solutions, and Control Technologies. The Industrial Process segment offers industrial pumps, such as centrifugal, chemical, slurry and process, and paper stock pumps, as well as pumps for the petrochemical, and oil and gas industries; and vertical, axial flow, multi-stage, and other pumps that are used in various industries. This segment also designs, fabricates, and engineers a range of valves for the biopharmaceutical, mining, power, pulp and paper, and general industrial markets; provides parts supply, inventory optimization, field, energy and reliability assessments, repairs, upgrades, and equipment maintenance services; and offers water treatment services for offshore oil and gas and exploration and production corporations. The Motion Technologies segment manufactures engineered and durable components, consisting of brake pads, hydraulic shock absorbers, dampers, visco-elastic, and hydraulic buffers for the transportation industry. The Interconnect Solutions segment offers engineered connectors and cable assemblies for applications in harsh environments; and designs and manufactures flow control and actuation components, motion control, energy absorption, and vibration isolation products under the Cannon, VEAM, and BIW brands primarily for commercial aerospace, military, and other markets. The Control Technologies segment provides a portfolio of products, such as fuel management, actuation, and noise absorption components that manage motion and absorb energy in various industrial markets. The company was formerly known as ITT Industries, Inc. and changed its name to ITT Corporation in July 2006. ITT Corporation was founded in 1920 and is headquartered in White Plains, New York.
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Press Release $ITT ITT Corporation
Company announces previous divestiture of shape cutting product lines to be reported in discontinued operations in 2012 results
WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- ITT Corporation (NYSE: ITT) will release its fourth-quarter and full-year 2012 financial results, as well as its outlook for full-year 2013 financial performance, at 7 a.m. EST, Wednesday, Feb. 27, 2013. At 9 a.m. EST, senior management will review financial and operating results, comment on current conditions and answer questions during an investor briefing.
ITT also announced that the divestiture of its shape cutting product lines in late 2012 will be reported in discontinued operations in the fourth-quarter and full-year 2012 results and all future reporting periods, and should be excluded from the previously issued full-year 2012 adjusted earnings per share guidance. The company’s previously issued guidance also excluded any impact from the Bornemann Pump acquisition closed in the fourth quarter of 2012.
At the time of its fourth-quarter earnings release on Feb. 27, 2013, the company will provide historical financial results adjusted for the move of the shape cutting product lines, which were part of its Control Technologies business, to discontinued operations.
The briefing can be accessed live by calling +1 (706) 643-7542 (ID#: 86180522) or at the following address on the company’s website: www.itt.com/investors.
A replay of the briefing will be available on the website and telephonically from two hours after the webcast until Wednesday, March 6, 2013, at midnight. The telephone replay is available by calling (800) 585-8367 (ID#: 86180522).
About ITT
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the energy, transportation and industrial markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. Founded in 1920, ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in a total of approximately 125 countries. The company generated 2011 revenues of $2.1 billion. For more information, visit www.itt.com.
ITT Corporation
Investors:
Melissa Trombetta, +1-914-641-2030
melissa.trombetta@itt.com
or
Media:
Kathleen Bark, +1-914-641-2103
kathleen.bark@itt.com
Source: ITT Corporation