(Reuters) - Diversified U.S. manufacturer Honeywell International Inc forecast a fiscal 2013 profit mostly below estimates, partly because of a charge from its Intermec Inc acquisition announced on Monday, and said it expected slow economic growth next year.
Chief Executive Officer Dave Cote, who is known for his strong views on the perils of the "fiscal cliff," did not mention it as a reason for the weaker-than-expected forecast in a statement on Monday morning.
The company, whose many industrial products include cockpit electronics and automotive turbochargers, said it would buy mobile computing device maker Intermec for $600 million, or $10 per share.
Shares of Honeywell fell 0.4 percent to $61.72 in morning trading.
Honeywell said the deal, which offers Intermec shareholders a 25 percent premium from Friday's closing stock price, would hurt 2013 earnings by 3 cents to 4 cents per share.
It forecast a 2013 profit of $4.75 to $4.95 per share, excluding items, while analysts on average expect $4.95, according to Thomson Reuters I/B/E/S.
Honeywell said it expected revenue of $39.0 billion to $39.5 billion for 2013, which compares with analysts' expectations of $39.42 billion.
"While Intermec strengthens our core scanning and mobile computing business, it opens up entirely new opportunities in RFID (radio frequency identification), voice solutions and barcode and receipt printing segments that we currently don't serve," said Roger Fradin, CEO of Honeywell's automation and control products unit.
Shares of Intermec rose 23 percent to $9.80.
(Reporting by Sayantani Ghosh in Bangalore; Additional reporting by Ernest Scheyder in New York; Editing by Roshni Menon and Lisa Von Ahn)
Source: http://news.yahoo.com/honeywell-forecasts-slow-growth-2013-125239726--sector.html
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