Diversified U.S. manufacturer Honeywell International Inc reported a 38 percent decline in earnings as a slump in the aviation and construction markets eroded demand for its products.
The world's largest maker of cockpit electronics said on Monday second-quarter income came to $450 million, or 60 cents per diluted share, compared with $723 million, or 96 cents per diluted share, a year earlier. Revenue fell 22 percent.
The company expects for full-year earnings of $2.85 per share, at the low end of its prior forecast of $2.85 to $3.20 per share.
The deep worldwide economic downturn has taken a toll on demand for the Morris Township, New Jersey-based company's light jet components and control systems used in large buildings.
So far this year, Honeywell shares are up 3.5 percent, while the Standard & Poor's capital goods industry group <.GSPIC> is down 3.4 percent.
(Reporting by Scott Malone; Editing by Derek Caney)