ITT Advanced Engineering & Sciences

ITT Industries, Inc. is a global engineering and manufacturing company with leading positions in the markets it serves, generating 2000 sales of $4.8 billion. ITT Industries is the world's premier supplier of pumps, systems, and services to move and control water and other fluids. The company is a major supplier of sophisticated military defense systems, and provides advanced technical and operational services to a broad range of government agencies. ITT Industries also produces connectors, switches, keypads and cabling used in telecommunications, computing, aerospace and industrial applications, as well as network services. Further, ITT Industries makes industrial components for a number of other markets, including transportation, construction, and aerospace. Based in White Plains, New York, ITT Industries employs approximately 42,000 people around the world.

In addition to the New York Stock Exchange, ITT Industries' common stock is traded on the Midwest, Pacific, London, Frankfurt and Paris exchanges.

The company reports its financial results under four reporting segments: Electronic Components, Defense Electronics & Services, Fluid Technology, and Motion & Flow Control. The four segments highlight the diversity and balance of the company's portfolio, and better reflect each of the businesses that will be going forward.

Electronic Components

This business, formerly included within the "Defense & Electronics" segment, consists of the company's products marketed under the Cannon brand. These products include connectors, switches and cabling used in telecommunications, computing, aerospace and industrial applications, as well as network services. The Connectors & Switches segment represents about 16 percent of the company's sales and 18 percent of its operating income.