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Crane Reports Third Quarter '09 results

Thursday, October 29, 2009  
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Crane Co. reported third quarter 2009 net income attributable to common shareholders of $35.1 million, or $0.60 per diluted share, compared to third quarter 2008 net income attributable to common shareholders of $36.1 million, or $0.60 per diluted share.

Although overall Fluid Handling segment sales increased slightly from the second quarter, unfavorable end markets continued to impact the longer-cycle, project-based chemical and pharmaceutical businesses, as well as many of our MRO businesses, resulting in the year-over-year sales decline. Fluid Handling profit margins increased to 13.1% from last year's level of 11.9% reflecting disciplined price versus material cost, and the impact of cost reduction initiatives, which offset the deleverage of lower sales. More…

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