Ingersoll Rand: Better-than-expected Results

News from Ingersoll Rand Company Limited announced that total reported revenues increased by 36% for the first quarter of 2009 compared with the 2008 first quarter. The company reported a net loss of $26.7 million. First-quarter net loss included a loss of $20.4 million from continuing operations, as well as $6.3 million of after tax costs from discontinued operations.

Despite an unprecedented decline in volume across all of our businesses and regions, Ingersoll Rand delivered better-than-expected results compared with its most recent forecast as productivity and cost-reduction initiatives gained momentum throughout the quarter.

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