UPDATE: United Technologies Q4 Net Income Surges 11%

United Technologies Corp (NYSE: UTX) reported an 11% rise in its fourth-quarter net income.

United Technologies' quarterly earnings surged to $1.33 billion, or $1.47 per share, from $1.2 billion, or $1.31 per share, in the year-ago quarter. Its adjusted net income came in at $1.46 per share. United Technologies' revenue rose to $14.97 billion from $14.86 billion. However, analysts were expecting a profit of $1.46 per share on revenue of $15.06 billion.

UTX affirmed its 2012 earnings forecast of $5.80 to $6 per share, versus analysts' estimates of $5.64 per share.

UTX shares gained 1.20% to close at $77.78 yesterday.