Friday, Ingersoll-Rand Company Ltd (NYSE:IR) reported third-quarter net income of $227.7 million, or EPS of $0.70. In the same quarter last year, the company reported net income of $266.6 million, or EPS of $0.92. Revenue for the quarter rose 93% to $4.31 billion, compared to $2.24 billion in the same period in 2007. Analysts' expected third-quarter earnings of $0.98 per share, on revenue of $4.37 billion. Continuing operations for the fourth-quarter 2008 EPS are forecasted between $0.55 - $0.75. The company's fiscal year 2008 continuing operations are forecasted between $3.35 - $3.55 EPS.

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