GLENVIEW, Ill. (AP) _ Illinois Tool Works Inc. (ITW) on Friday reported first-quarter net income of $671 million.

On a per-share basis, the Glenview, Illinois-based company said it had net income of $2.11.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.

The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.54 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $3.43 billion.

Illinois Tool Works expects full-year earnings to be $8.20 to $8.60 per share.

Illinois Tool Works shares have climbed 13% since the beginning of the year, while the S&P's 500 index has increased 12%. The stock has climbed 38% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITW at https://www.zacks.com/ap/ITW

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News