Honeywell Reports Big Loss During Quarter
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Honeywell Inc. said it lost $492.8 million in the fourth quarter of 1986 because of huge, one-time charges for restructuring, writedowns and asset sales.
For all of 1986, Honeywell posted a net loss of $398.1 million. As the company had projected in December, the total charges for the quarter and the year amounted to $584 million.
Honeywell’s loss for the quarter ended Dec. 31 compared to a profit of $127.2 million in the year before. Revenue for the quarter rose to $1.62 billion from $1.50 billion.
For the year, Honeywell’s loss compared to net income of $281.6 million in 1985.
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