ITT Corp. said Thursday its profits more...
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ITT Corp. said Thursday its profits more than doubled in the second quarter, posting gains from its hotel and entertainment operations and the sale of its financial unit.
The owner of Hartford Insurance, Sheraton hotels and Caesar’s World casinos earned $612 million, or $5.61 a share, up from $258 million, or $2.11 a share, in the same period a year earlier.
The results include one-time factors, such as the $403-million sale on substantially all of the assets of ITT Financial Corp. and the planned disposals of ITT Semiconductors and a unit of ITT Community Development Corp.
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