Ingersoll-Rand Co. (IR) on Thursday posted strong quarterly earnings on higher sales across the board, and the manufacturing conglomerate raised its full-year profit outlook.

The maker of Bobcat (search) construction vehicles, Schlage (search) locks and Thermo King (search) refrigeration equipment said all of its business units except its Dresser-Rand energy equipment business had double-digit revenue growth.

The shares slipped less than 1 percent.

Ingersoll-Rand posted solid operating margins on the higher sales volumes, analysts said.

"Ingersoll posted a strong operating performance in an improving economic environment," said Eli Lustgarten of independent research firm J.B. Hanauer & Co. "What you're seeing from most industrial companies is the guidance is going up, which means the second half with be better."

Ingersoll-Rand, based in Hamilton, Bermuda, said second-quarter net income rose to $286.2 million, or $1.63 a share, from $139.3 million, or 81 cents a share, a year earlier.

Earnings from continuing operations were $250.4 million, or $1.43 a share. The company sold its drilling business on June 30 to Atlas Copco AB of Stockholm, Sweden.

Analysts had expected $1.30 a share, with forecasts ranging from $1.21 to $1.38, according to Reuters Estimates.

Ingersoll-Rand said second-quarter revenue rose 12 percent to $2.71 billion.

The company forecast third-quarter net earnings of $1.10 to $1.15 a share and boosted its full-year forecast profit forecast to between $4.75 and $4.85 a share from a prior range of $4.35 to $4.50.

"Strong incoming order growth supports management's now higher EPS outlook," said Robert McCarthy, analyst with Robert W. Baird & Co., who rates the stock "outperform."

Among major business segments, the infrastructure unit, which includes Bobcat compact equipment, Club Car (search) golf cars and Ingersoll-Rand road pavers, saw a 24 percent jump in revenue to $886.5 million, boosted by improving North American markets.

Revenue in security and safety increased 16 percent to $442.6 million, helped by a jump in sales of electronic access controls.

The climate control business posted an 11 percent rise in revenue to $727.3 million, driven by strong volume in Thermo King truck refrigeration units. However, shipments of Hussmann supermarket refrigeration cases were unchanged as customers continued to limit capital spending, Ingersoll-Rand said.

The industrial solutions segment, whose products include compressed air systems, tools and fluid power, had revenue growth of 11 percent to $380.1 million, excluding Dresser-Rand. Including Dresser-Rand, the unit's revenue rose 9 percent to $657.5 million.

The company's shares were down 54 cents at $64.96 on the New York Stock Exchange.