Honeywell sees sales of up to $45 billion in 5 years

 @ibtimes on February 22 2010 7:24 PM

Diversified manufacturer Honeywell International Inc believes its revenue could grow to a range of $41 billion to $45 billion over five years, as the world economy climbs out of a severe recession.

Chief Executive Dave Cote made that projection in a presentation to analysts on Monday, saying that the world's largest maker of cockpit electronics could see a rapid, or V-shaped recovery in some markets as customers stop cutting inventory.

The $41 billion to $45 billion target, which the company could reach by 2014, would be well above the Morris Township, New Jersey-based company's most recent revenue peak of $36.56 billion, reached in 2008.

Chief Financial Officer Dave Anderson affirmed Honeywell's previous 2010 earnings forecast of $2.20 to $2.40 per share, including charges related to its pension accounting.

This year, Wall Street looks for full-year earnings of $2.38 per share on $31.82 billion in revenue, according to Thomson Reuters I/B/E/S.

Honeywell's competitors include United Technologies Corp in aerospace and building control systems, Goodrich Corp in aviation and DuPont Co

in specialty materials.

(Reporting by Scott Malone; Editing by Leslie Gevirtz and Richard Chang)

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