UPDATE 2-Ingersoll-Rand 1st-quarter profit tops forecasts

Newswire

(Adds analyst comment) NEW YORK, April 30 (Reuters) - Ingersoll-Rand Co , which is in the process of buying heating and air conditioning company Trane Inc , reported a higher-than-expected quarterly profit on Wednesday, driven by international demand and higher parts, service and rental sales. A lower-than-expected tax rate was a key factor in the diversified manufacturer's earnings beat, Bear Stearns analyst Ann Duignan said. "There were concerns that Ingersoll would have to lower its ...

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