CLEVELAND (Jan. 22)—Eaton Corp. today reported net income of $84 million on sales of $2.14 billion for the fourth quarter ended Dec. 31. That compares to the year earlier´s fourth quarter income of $224 million on sales of $2.2 billion which included a gain on the sale of a business. During the past two years Eaton has taken restructuring charges. For the year, Eaton posted net income of $473 million on record sales of $8.99 billion, compared to earnings of $439 million on sales of $8.4 billion during 1999. To achieve results comparable with those of last year, Eaton included Axcelis Technologies Inc., which was spun off effective Dec. 29, in the income statements.
Eaton reports record sales for 2000, despite fourth-quarter slowdown
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