The industrial material maker said it still expects to earn between 86 cents and 94 cents per share for the quarter on revenue growth of 9.5 percent to 12.5 percent.

Based on the company's fourth-quarter 2010 revenue of $4.17 billion, the guidance projects revenue of between $4.57 billion and $4.69 billion.

Analysts, on average, expect a fourth-quarter profit of 89 cents per share on $4.41 billion in revenue, according to a FactSet poll.

For the full fiscal year, the Glenview, Ill.-based company said it expects a profit of $4.04 to $4.12 per share. The estimate includes the 33 cents per share stemming from a one-time tax benefit. Excluding that gain, the midpoint of the range would be $3.75, the company said.

Revenue is expected to increase between 15.1 percent and 15.9 percent. Based on the company's 2010 revenue of $15.87 billion, the guidance projects 2011 revenue of between $18.27 billion and $18.39 billion.

Analysts polled by FactSet expect a profit of $3.75 per share on $17.9 billion in revenue.

Illinois Tool also said Monday that demand for its products remained stable in November in several worldwide end markets, but European markets continued to be "challenging."

In afternoon trading, Illinois Tool shares slipped 1 cent to $45.99.