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Technology Stocks : Eaton (ETN) is definitely not overvalued! -- Ignore unavailable to you. Want to Upgrade?

To: Walter Morton who wrote (144)	4/17/1999 12:56:00 PM
From: DSPetry	Read Replies (1) \| Respond to of 338

April 15, 1999 Eaton earns $84 million on sales of $1.66 billion CLEVELAND, OHIO....Eaton Corporation (NYSE:ETN) today announced that first quarter 1999 earnings per share were $1.17, down 18 percent from last year's first quarter record $1.42 per fully diluted share. Net income for the first quarter was $84 million compared to last year's $105 million. Sales were $1.66 billion compared to $1.69 billion last year. Three months ended March 31 --------------- (Millions except for per share data) 1999 1998 ---- ---- Net sales $1,661 1,687 Income before income taxes 123 155 Net income 84 105 Net income per Common Share Assuming dilution $ 1.17 1.42 Basic 1.18 1.45 Average number of Common Shares outstanding Assuming dilution 72.2 73.7 Basic 71.2 72.0 Cash dividends paid per Common Share $ 0.44 0.44 (Millions) 1999 1998 ---- ---- ASSETS Current assets Cash $ 20 $ 80 Short-term investments 20 42 Accounts receivable 1,018 885 Inventories 714 707 Deferred income taxes & other current assets 290 268 ------- ------- 2,062 1,982 Property, plant & equipment 1,781 1,837 Excess of cost over net assets of businesses acquired 1,015 1,025 Deferred income taxes & other assets 806 821 ------- ------- $5,664 $5,665 ======= ======= LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Short-term debt & current portion of long-term debt $ 398 $ 333 Accounts payable & other current liabilities 1,181 1,183 ------- ------- 1,579 1,516 Long-term debt 1,188 1,191 Postretirement benefits other than pensions 561 557 Other liabilities 318 344 Shareholders' equity 2,018 2,057 ------- ------- $5,664 $5,665 ======= =======