UPDATE: United Technologies Posts Drop In Q4 Profit

United Technologies

reported a drop in its fourth-quarter profit. United Technologies' quarterly profit from continuing operations declined to $945 million, or $1.04 per share, versus $1.28 billion, or $1.42 per share, in the year-earlier quarter. Its sales rose 14% to $16.4 billion. However, analysts were expecting earnings of $1.04 per share on sales of $16.65 billion. United Technologies projects 2013 profit of $5.85 to $6.15 per share, versus analysts' estimates of $6.05 per share. United Technologies shares closed at $87.47 yesterday.