Bermuda-based Ingersoll-Rand Co. yesterday reported its third-quarter profit jumped 73 percent on strong sales of generators, compressors and Bobcat construction machines.

The company raised the lower end of its 2003 outlook.

The manufacturer reported earnings of $154.6 million, or 88 cents a share, on revenue of $2.52 billion, compared with earnings of $89.3 million, or 53 cents a share, on revenue of $2.2 billion, last year.

Results included a gain of one cent a share from discontinued operations.

Analysts were expecting earnings of 75 cents a share, according to Thomson First Call.

Revenue from the Industrial Solutions segment, which makes generators, turbines, compressed-air systems and other industrial components, rose to $726.8 million from $551.2 million last year.

The climate control unit, which makes Thermo-King refrigeration equipment, posted revenue of $683.8 million, a 6.9 percent increase.

Revenue from the Infrastructure unit rose 10.8 percent to $691.5 million on strong sales growth of Bobcat compact construction machines and Ingersoll-Rand branded road paving equipment.

Ingersoll-Rand adjusted the lower end of its 2003 forecast to $3.20 from $3.10 per share, keeping the upper end at $3.30 a share.

Analysts expect 2003 earnings of $3.22 a share.

Ingersoll-Rand, which is incorporated in Bermuda but headquartered in Woodcliff Lakes, New Jersey, predicts fourth-quarter earnings per share between 93 cents and $1.03. Last year it earned $1.19 a share in the quarter.

Analysts expect fourth-quarter earnings of $1.07 a share.