DANA POINT, Calif., Sept. 11 /PRNewswire-FirstCall/-- United
Technologies Corp. (NYSE: UTX) Chairman and Chief Executive Officer George
David today announced increased expectations for share repurchase during
2007. During comments made at the Morgan Stanley CEOs Unplugged Industrials
Conference, David raised guidance for 2007 share repurchase to $2 billion,
up from the prior $1.5 billion expectation, and confirmed the outlook for
2007 acquisitions spending in the range of $2 billion for the year,
unchanged from prior projections. David also reaffirmed the company's 2007
outlook for earnings per share and cash flow. EPS is anticipated to be in
the range of $4.15 to $4.25 and cash flow from operations after capital
expenditures to exceed net income for the year.
United Technologies, based in Hartford, Conn., is a diversified company
that provides high technology products and services to the building and
aerospace industries.
This release includes "forward-looking statements" concerning
anticipated future financial performance, including expected revenues,
earnings, cash flow, acquisitions, and share repurchase amounts. These
matters are subject to risks and uncertainties. Important factors that
could cause actual results to differ materially from those anticipated or
implied in forward looking statements include the health of the global
economy; strength of end market demand in construction and in both the
commercial and defense segments of the aerospace industry; fluctuation in
commodity prices, interest rates, foreign currency exchange rates, and the
impact of weather conditions; and company- specific factors including the
availability and impact of acquisitions; the rate and ability to
effectively integrate these acquired businesses; the ability to achieve
cost reductions at planned levels; challenges in the design, development,
production and support of advanced technologies and new products and
services; delays and disruption in delivery of materials and services from
suppliers; labor disputes; and the outcome of legal proceedings. The level
of share repurchases may vary depending on the level of other investing
activities. For information identifying other important economic,
political, regulatory, legal, technological, competitive and other
uncertainties, see UTC's SEC filings as submitted from time to time,
including but not limited to, the information included in UTC's 10-K and
10-Q Reports under the headings "Business," "Risk Factors," "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
and "Cautionary Note Concerning Factors that May Affect Future Results," as
well as the information included in UTC's Current Reports on Form 8-K.
Contact: John Moran
(860) 728-7062
UTC-IR
SOURCE United Technologies Corp.
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Related links:
http://www.utc.com
http://www.prnewswire.com/comp/913919.html/
CONTACT:
John Moran, United Technologies Corp.,
+1-860-728-7062, or UTC Investor Relations, +1-860-728-7608
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