Morristown, N.J.-based Allied-Signal Inc., a technology company...

Morristown, N.J.-based Allied-Signal Inc., a technology company whose primary businesses are in aerospace and electronics, automotive products and engineered materials, posted record third-quarter net income 73% higher than the same period last year, earnings per share that were up 10%, and sales that rose 78%. Chairman and Chief Executive Edward L. Hennessy Jr. said third-quarter net income for the company’s three operating segments more than doubled, primarily as a result of improved aerospace sales and higher earnings for the automotive aftermarket and fibers businesses. Earnings also reflect the results of the former Signal businesses as well as the effect of the cost-reduction program announced last year. The company’s military sales remained strong and its commercial aviation business is improving, he added. Nine-month net income, also a record, increased 41% over last year and nine-month sales were up 35%.