ITT, the diversified communications and financial-services company, posted a 51.3% second-quarter profit gain, including some sizable gains from divestitures.
The company reported a profit of $118 million for the three months ended June 30, compared to net income of $78.3 million a year ago.
Revenue rose to $5.1 billion from a restated $4.8 billion a year ago. The revenue figures include insurance and finance revenue of $1.9 billion, compared to $1.7 billion a year ago.
The latest results included a $26.9-million gain from divestitures. Excluding divestitures, the company said its per-share earnings from ongoing operations increased 15% in the quarter from a year ago.