[SatNews] ITT Corporation (NYSE: ITT) has reported 2011 third-quarter revenue of $2.98 billion and income from continuing operations of $71 million.

Excluding the impact of separation costs and other adjustments, income from continuing operations for the quarter was $218 million, or $1.17 per share, compared with $200 million or $1.08 per share, in the prior-year period.

"We are proud of our team for remaining focused on serving our customers to deliver this strong performance, even while executing on the separation of ITT into three strongly positioned, independent companies. I want to thank all of our employees for their diligence and hard work over the last several months," said Steve Loranger, ITT's chairman, president and chief executive officer. "The transformation of ITT and the launch of ITT Exelis and Xylem are on track to occur on October 31. The necessary costs to successfully separate into three companies are in line with our previous forecast, and all three new companies are nicely capitalized for future growth." To read the entire financial report, access this direct link.