ITT Corp.: Second-quarter profit rose 7% to...
ITT Corp.: Second-quarter profit rose 7% to $244 million. Revenue totaled $5.2 billion, a gain of 4%. The results included tax benefits at Hartford Insurance Group of $8 million, an $18-million gain on the sale of ITT’s European headquarters facility, and, as previously announced, a writedown of $28 million for Hartford’s investment in Thompson McKinnon Inc. The diversified New York-based conglomerate produces industrial goods and operates hotel, insurance and finance subsidiaries.
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