99.1
INGERSOLL-RAND COMPANY LIMITED
Consolidated Income Statement
Third Quarter and Nine Months
(In millions except per share amounts)
UNAUDITED
		Three Months		Nine Months
		Ended September 30,		Ended September 30,
		2003	2002	2003	2002
Revenues		$  2,519.5	$  2,208.2	$  7,210.3	$  6,462.4
Cost of goods sold		1,921.1	1,691.5	5,497.7	4,932.2
Selling & administrative expenses		376.0	358.0	1,109.6	1,030.0
Restructuring (reversals) / charges		(1.9)	9.4	(1.9)	26.6
Operating income		224.3	149.3	604.9	473.6
Interest expense		(42.4)	(58.7)	(136.4)	(177.0)
Other expense		(3.7)	-	(7.9)	(20.8)
Earnings before taxes		178.2	90.6	460.6	275.8
Provision for taxes		24.9	11.8	63.1	36.2
Earnings from continuing operations		153.3	78.8	397.5	239.6
Discontinued operations, net of tax		1.3	10.5	49.6	38.0
Earnings before cumulative effect
	of change in accounting principle	154.6	89.3	447.1	277.6
Cumulative effect of change in
	accounting principle, net of tax	-	-	-	(634.5)
Net earnings/(loss)		$     154.6	$       89.3	$     447.1	$    (356.9)
Basic earnings per share
	- Continuing operations	$       0.89	$       0.47	$       2.33	$       1.42
	- Discontinued operations	0.01	0.06	0.30	0.22
	- Change in accounting principle	-	-	-	(3.76)
		$       0.90	$       0.53	$       2.63	$      (2.12)
Diluted earnings per share
	- Continuing operations	$       0.88	$       0.47	$       2.31	$       1.41
	- Discontinued operations	-	0.06	0.29	0.22
	- Change in accounting principle	-	-	-	(3.72)
		$       0.88	$       0.53	$       2.60	$      (2.09)
Average number of common
	shares outstanding:
	Basic	171.6	169.2	170.3	168.8
	Diluted	174.8	169.9	171.8	170.3
"SEE ATTACHED RELEASE FOR ADDITIONAL INFORMATION"