ITT Corporation (ITT) announce Q3 results and played some word games with the headlines. In the earnings release bullets they claim net income of $0.78 @ share. In the lead off sentence or two they come clean and let investors know that continuing operations provided only $0.07. You can fit the grand Canyon between the two. ITT has fit a Financial Grand Canyon between the two. The press release is integrity challenged.
Steve Loranger, ITT’s chairman, president and chief executive officer quickly jumps in and says the order book is looking good. Tomorrow Tomorrow Tomorrow.
- How Safe Are ITT’s Dividends? (fool.com)
- ITT to Release Third-Quarter 2010 Results on October 29 (eon.businesswire.com)