Eaton’s 3Q net income rises

Truck component manufacturer Eaton Corp. said its third-quarter net income rose to $107 million on sales of $2.03 billion despite taking several restructuring charges that reduced its overall third-quarter earnings. For the first nine months of 2003, Cleveland, OH-based Eaton said net income topped $272 million on sales of $5.98 billion. "While our end markets remained depressed in the third quarter,

Truck component manufacturer Eaton Corp. said its third-quarter net income rose to $107 million on sales of $2.03 billion despite taking several restructuring charges that reduced its overall third-quarter earnings.

For the first nine months of 2003, Cleveland, OH-based Eaton said net income topped $272 million on sales of $5.98 billion.

"While our end markets remained depressed in the third quarter, we anticipate modest growth in the fourth quarter compared to last year, driven principally by a stronger heavy-duty truck market in North America,” said chairman & CEO Alexander Cutler.

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