GLENVIEW, Ill (Reuters) - Illinois Tool Works Inc. a maker of engineered components, said that total revenues for the three months ended Jan. 31 were down 1 percent on slowing demand for its products. The company also reiterated its 2001 earnings forecasts, previously announced on Jan. 30, when it reported fourth-quarter earnings.

It said it expects first-quarter earnings of 66 to 71 cents a share and 2001 earnings of $3.20 and $3.40 a share.

Illinois Tool Works fourth-quarter net income increased 11.9 percent to $201.5 million, or 66 cents a share, from $180 million, or 59 cents a share, a year ago. The results were near the bottom end of lowered expectations as acquisitions offset weak demand in its base businesses.