
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, April 27, 1990                   TAG: 9004270246
SECTION: BUSINESS                    PAGE: A11   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

ITT'S FIRST-QUARTER EARNINGS RISE 26

ITT Corp. has reported quarterly net income of $253 million or $1.77 per share, a 26 percent increase over the $200 million of a year ago. Income included an after-tax gain of $47 million on the sale of the company's 2 million shares in Compagnie Generale d'Electricite of Paris.

Sales and revenues for the quarter were $4.9 billion compared with $4.8 billion a year earlier. Results of all businesses except electronic components were better than last year, the company said.

The company's share of earnings from its partnership in Alcatel, which has a fiber optics plant in Roanoke County, "rose dramatically" during the quarter as a result of improved performance worldwide, ITT said. - Staff report

by CNB