Honeywell third quarter sales up 6% to $9.3 billion

Honeywell announced third quarter 2008 sales of $9.3 billion, an increase of 6% versus the prior year. Earnings per share of $0.97 compares to $0.81 in the prior year, up 20%. Cash flow from operations was $769 million versus $910 million last year, and free cash flow (cash flow from operations less capital expenditures) was $556 million versus $736 million in the third quarter of 2007, primarily due to increased cash tax payments in the quarter. In the third quarter, Honeywell completed the sale of its Consumables Solutions business resulting in a pre-tax gain of $0.6 billion. Also during the third quarter, the company executed approximately $0.6 billion of repositioning, environmental and other actions across its businesses.