NEW YORK (AP) ? Ingersoll-Rand Co. affirmed its first-quarter and 2006 profit guidance and said it plans to step up the company's capital investments this year to a range of $175 million to $200 million.

In a press release yesterday, the Bermuda company said it still expects first-quarter earnings from continuing operations of 73 cents to 77 cents a share before stock-option costs of about two cents to three cents a share.

Analysts surveyed by Thomson First Call expect Ingersoll's first-quarter profit, on average, to climb to 72 cents from 64 cents a share a year earlier.

Ingersoll continues to anticipate 2006 earnings from continuing operations of $3.45 to $3.55 a share before stock-option costs of five cents to six cents a share. This outlook assumes organic revenue growth of six to seven percent.

The revenue forecast implies a range of $11.18 billion to $11.29 billion, based on the $10.55 billion generated a year earlier.

On average, Wall Street expects Ingersoll's 2006 per-share profit to increase to $3.41 from $3.10 a year ago on anticipated revenue of $11.46 billion.

Additionally, Ingersoll plans to increase its 2006 investments by $80 million. The additional funds will be used for new product development and to expand market opportunities for acquired businesses. The company also intends to grow distribution channels for its Bobcat, pneumatic tools and air compressor businesses.