Official reports posted by Eaton Corp. have revealed a whopping 29% profit in the year's fourth-quarter, beating all estimates pegged by analysts and the firm itself.

During the third-quarter as well, the firm had shown some signs of improvement, but these definitely gained momentum in the fourth-quarter. On Monday, Chairman and Chief Executive Alexander M. Cutler shared that the company's markets had managed to modestly improve during the quarter, a development which reflected a continuing sluggish recovery of the global economy.

The strong results of the company, the chief stressed, have been an outcome of an improvement in operating performance.

For the fourth-quarter, Eaton's earnings hiked to $211 Million, or $1.25 per share, from last year's figure of $163 Million, or 98 cents a share. Revenue, however, slipped by 10% to $3.13 Billion.

On the successful figures, the company has hiked its complete year earnings guidance, and Eaton now sees earnings of $3.70 to $4 per share, on an 11% growth in sales.

"We anticipate that 2010 will prove to be a transitional year of growth between the depressed market conditions of 2009 and even better market conditions in 2011", Mr. Cutler said.