ITW Reports an 18 Percent Decrease in Operating Revenues for Three Months Ended October 31, 2009; Base Revenues Improve Modestly From 2009 Third Quarter Results

GLENVIEW, Ill., Nov. 16, 2009 -- Illinois Tool Works Inc. today reported an operating revenue decrease of 18 percent for the three months ended October 31, 2009. The revenue decline for the three months consisted of a 17 percent decrease in base revenues and a 4 percent decline in contributions from currency translation. Acquisitions contributed 3 percent to revenues in the three month period. For the most recent three month period, base revenues improved modestly compared to the 2009 third quarter results mainly due to ongoing improvements in discrete end markets such as automotive and construction.

On a segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below.

  (% change for 3 months ended October 31, 2009 versus prior year period)

     *Industrial Packaging:            - 26.6 %
     *Power Systems and Electronics:   - 31.8 %
     *Transportation:                  -  7.5 %
     *Food Equipment:                  - 11.6 %
     *Construction Products:           - 17.4 %
     *Polymers and Fluids:             - 19.1 %
     *Decorative Surfaces:             - 17.3 %
     *All Other:                       - 14.8 %

The Company is forecasting fourth quarter 2009 diluted income per share from continuing operations to be in a range of $0.54 to $0.66. The 2009 fourth quarter forecast assumes a total revenue range of -1 percent to +5 percent versus the 2009 third quarter.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitations, statements regarding operating revenues, diluted income per share from continuing operations and the Company's related forecasts. These statements are subject to certain risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated. Important factors that could cause actual results to differ materially from the Company's expectations are set forth in ITW's Form 10-K for 2008.

With $17.1 billion in 2008 revenues, ITW is a multinational manufacturer of a diversified range of value-adding and short lead-time industrial products and equipment. The Company consists of 895 business units in 54 countries and employs some 59,000 people.