United Technologies 2Q profit falls 17 percent as co. records restructuring costs

United Technologies 2Q profit falls 17 percent

HARTFORD, Conn. — United Technologies says its second-quarter profit fell 17 percent as the diversified manufacturer recorded restructuring costs.

The Hartford, Conn.-based company says net income totaled $976 million, or $1.05 per share, down from $1.28 billion, or $1.32 per share, in same period last year. The latest quarter included 22 cents per share in restructuring costs, and a one-time gain of 6 cents per share.

Revenue slid $13.2 billion from $15.9 billion.

Analysts surveyed by Thomson Reuters expected earnings to be $1.04 per share excluding items on revenue of $13.9 billion.

United Technologies Corp. makes Otis elevators, Sikorsky helicopters, and jet engines. The company has struggled as airlines order fewer engines, and a weak construction market has hurt demand for elevators.