Ingersoll expects Q2 earnings of up to $1.30 per share

Bermuda-based Ingersoll-Rand said it still expects second-quarter earnings of $1.20 to $1.30 per share, buoyed by strength in its major construction and industrial end markets.

Chief executive officer Herbert Henkel said in a statement that the diversified industrial company is also still expecting 2004 earnings of $4.35 to $4.50. The current average estimate of analysts polled by Thomson First Call is for second-quarter earnings of $.128 a share and 2004 earnings of $4.60.

Bacardi sales soar

Bacardi USA, a unit of Bermuda-based Bacardi, said US depletions reached an all-time high of more than 8.2m cases in 2003, led by its signature line of rums, according to UK website Just-Drinks.com

The website said sales of Bacardi Silver line, which is produced in partnership with Anheuser-Busch and includes Bacardi Silver Raz and Bacardi Silver 03, grew "beyond original predictions" with a 20 percent jump. Bacardi's line of drink mixes also beat company expectations with depletions of 500,000 cases.

Dewar's volume sales and market share rose, boosted by a 30 percent increase in Dewar's. Bombay Gin sales increased, with Bombay Sapphire seeing double-digit gains.