HARTFORD, Conn., March 3, 2008 -– Following its announcement of a proposal to the Board of Directors of Diebold, Incorporated (NYSE: DBD) concerning United Technologies Corp.’s (NYSE: UTX) interest in acquiring Diebold, UTC reaffirms its expectations for 2008 earnings per share in the range of $4.65 to $4.85 and cash flow from operations less capital expenditures equaling or exceeding net income. This outlook includes the impact of UTC’s proposed acquisition of Diebold at $40 per share.
United Technologies, based in Hartford, Conn., is a diversified company that provides high technology products and services to the building and aerospace industries.
This release includes "forward-looking statements" concerning anticipated future financial performance, including expected earnings and cash flow. These matters are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the health of the global economy; strength of end market demand in construction and in both the commercial and defense segments of the aerospace industry; fluctuation in commodity prices, interest rates, foreign currency exchange rates, and the impact of weather conditions; and company-specific factors including the availability and impact of acquisitions; the rate and ability to effectively integrate these acquired businesses; the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies and new products and services; delays and disruption in delivery of materials and services from suppliers; labor disputes; and the outcome of legal proceedings. The level of share repurchases may vary depending on the level of other investing activities. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including but not limited to, the information included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as the information included in UTC's Current Reports on Form 8-K.