ABB – Q1 revenues steady despite economic challenges

  • Large order growth offset by strong decline in base orders – order backlog up $1.2 billion vs the end of Q4 2008
  • Local-currency revenues up on backlog execution, base business decreases
  • EBIT at $862 million, cost take-out target increased to $2 billion by 2010
  • Net income at $652 million

Zurich, Switzerland, April 23, 2009 – ABB’s first-quarter 2009 revenues rose 3 percent in local currencies as execution of the solid order backlog offset lower sales of standard products and declining base business compared to the same quarter in 2008…..more at