Eaton rides global economic recovery to a first-quarter profit as revenue jumps 10 percent

Eaton turns 1Q profit on global economic growth

CLEVELAND — The expanding global economy pushed diversified manufacturer Eaton Corp. back to a profit in the first quarter.

Eaton, which makes hydraulics and electrical equipment used by manufacturers in numerous industries, said Tuesday it earned $155 million, or 91 cents per share, in the quarter that ended March 31.

The company, based in Cleveland, lost $50 million, or 30 cents per share, in the first quarter of 2009.

Revenue in the latest quarter rose 10 percent to $3.1 billion.

The company easily beat Wall Street expectations and shares rose 2.3 percent, or $1.85, to $81 in premarket trading.

On the Net: www.eaton.com