Honeywell Aerospace 4Q Sales Dip

Honeywell said fourth-quarter sales of its Aerospace segment declined 1 percent to $3.23 billion compared to the same period in 2007, which it attributed mainly to the sale of its Consumables Solutions business to B/E Aerospace. Excluding the impact of acquisitions and divestitures, it said, sales increased 2 percent.

Aerospace segment profit grew 1 percent to $619 million in the fourth quarter.

Commenting on the results of the overall company, Honeywell Chairman and CEO Dave Cote said, “2009 will be a more challenging year. However, the actions we've taken over the past several years will benefit us in this economic downturn and have made Honeywell a more efficient, innovative, and productive company.”