ITT Corp. (ITT, Financial) filed Quarterly Report for the period ended 2010-06-30.
Itt Corp. has a market cap of $8.65 billion; its shares were traded at around $47.12 with a P/E ratio of 12.02 and P/S ratio of 0.79. The dividend yield of Itt Corp. stocks is 2.12%. Itt Corp. had an annual average earning growth of 11.4% over the past 10 years. GuruFocus rated Itt Corp. the business predictability rank of 3.5-star.ITT is in the portfolios of James Barrow of Barrow, Hanley, Mewhinney & Strauss, Brian Rogers of T Rowe Price Equity Income Fund, Pioneer Investments, Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors, John Keeley of Keeley Fund Management, Paul Tudor Jones of The Tudor Group, Bruce Kovner of Caxton Associates, Jean-Marie Eveillard of First Eagle Investment Management, LLC.
through the realization of planned incremental productivity benefits. These cost and productivity actions include discretionary cost controls and driving incremental supply chain savings through our integrated global strategic sourcing group. Overall, we expect full year 2010 adjusted income from continuing operations per diluted share in the range of $4.08 and $4.18.
Within our Fluid and Motion & Flow segments we continue to focus on our customers by aligning our activities, including service and maintenance offerings, with their needs. We plan to improve product life cycle costs by making our products more energy efficient and by reducing the total cost of ownership. We will continue to drive productivity initiatives by identifying areas for cost reduction and leveraging our business and functional strength to achieve competitive advantages. We have launched a Value-Based Commercial Excellence initiative focused on fully utilizing our commercial resources more efficiently and effectively. We expect to strengthen our current position around the growing global macro trends by broadening our product and service offerings through strategic acquisitions and investments in technology advancement and emerging markets. We currently project full year 2010 organic revenue of approximately $3.6 billion within our Fluid segment and approximately $1.4 billion within our Motion & Flow segment.
Revenue for the quarter ended June 30, 2010 was $2,739, representing a 0.7% increase as compared to the same prior year period. Revenue for the six months ended June 30, 2010 was $5,317, representing a 1.8% increase as compared to the same prior year period. The following table illustrates the impact of organic (decline)/growth, acquisitions and divestitures, and foreign currency translation fluctuations on revenue during these periods.
During the quarter and six months ended June 30, 2010, we received orders of $2,064 and $4,495, respectively, representing declines of 21.0% and 12.1% from the same prior year periods. Orders within our Defense segment declined 49.1% and 33.9%, respectively, primarily attributable to the receipt of two significant orders during the second quarter of 2009 totaling $501 and two significant orders received during the first quarter of 2009 totaling $438. Order growth within both our Fluid and Motion & Flow segments partially offset this decline.
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Itt Corp. has a market cap of $8.65 billion; its shares were traded at around $47.12 with a P/E ratio of 12.02 and P/S ratio of 0.79. The dividend yield of Itt Corp. stocks is 2.12%. Itt Corp. had an annual average earning growth of 11.4% over the past 10 years. GuruFocus rated Itt Corp. the business predictability rank of 3.5-star.ITT is in the portfolios of James Barrow of Barrow, Hanley, Mewhinney & Strauss, Brian Rogers of T Rowe Price Equity Income Fund, Pioneer Investments, Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors, John Keeley of Keeley Fund Management, Paul Tudor Jones of The Tudor Group, Bruce Kovner of Caxton Associates, Jean-Marie Eveillard of First Eagle Investment Management, LLC.
Highlight of Business Operations:
ITT reported revenue of $2,739 during the second quarter of 2010, reflecting an increase of 0.7% from the second quarter 2009 revenue of $2,719, primarily reflecting the benefits from our recent acquisitions as well as growth within our Motion & Flow segment, partially offset by volume reductions within portions of our Defense segment as compared to strong prior year results. Operating income of $324, an increase of 6.9% from the prior year, primarily benefitted from significant savings from various restructuring, sourcing and other productivity initiatives executed over the last two years. Income from continuing operations of $226, or $1.22 per diluted share, increased 13.0% from the prior year.through the realization of planned incremental productivity benefits. These cost and productivity actions include discretionary cost controls and driving incremental supply chain savings through our integrated global strategic sourcing group. Overall, we expect full year 2010 adjusted income from continuing operations per diluted share in the range of $4.08 and $4.18.
Within our Fluid and Motion & Flow segments we continue to focus on our customers by aligning our activities, including service and maintenance offerings, with their needs. We plan to improve product life cycle costs by making our products more energy efficient and by reducing the total cost of ownership. We will continue to drive productivity initiatives by identifying areas for cost reduction and leveraging our business and functional strength to achieve competitive advantages. We have launched a Value-Based Commercial Excellence initiative focused on fully utilizing our commercial resources more efficiently and effectively. We expect to strengthen our current position around the growing global macro trends by broadening our product and service offerings through strategic acquisitions and investments in technology advancement and emerging markets. We currently project full year 2010 organic revenue of approximately $3.6 billion within our Fluid segment and approximately $1.4 billion within our Motion & Flow segment.
Revenue for the quarter ended June 30, 2010 was $2,739, representing a 0.7% increase as compared to the same prior year period. Revenue for the six months ended June 30, 2010 was $5,317, representing a 1.8% increase as compared to the same prior year period. The following table illustrates the impact of organic (decline)/growth, acquisitions and divestitures, and foreign currency translation fluctuations on revenue during these periods.
During the quarter and six months ended June 30, 2010, we received orders of $2,064 and $4,495, respectively, representing declines of 21.0% and 12.1% from the same prior year periods. Orders within our Defense segment declined 49.1% and 33.9%, respectively, primarily attributable to the receipt of two significant orders during the second quarter of 2009 totaling $501 and two significant orders received during the first quarter of 2009 totaling $438. Order growth within both our Fluid and Motion & Flow segments partially offset this decline.
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