Flowserve Reports Third Quarter Sales of $1.05 Billion
Friday, October 30, 2009
Flowserve Corp. announced third quarter fully
diluted EPS of $2.07, up $0.03 or 1%, including realignment charges of $0.05.
Bookings for the third quarter were $975 million, down 29%, or 26% excluding
negative currency effects of $37 million. Third quarter sales were $1.05 billion,
down 9%, or 5% excluding negative currency effects of $47 million.
Flow Control bookings decrease was generally
attributable to weakness in the chemical and general industries markets in
Europe, Middle East and Africa and Asia Pacific, partially offset by nuclear
orders in North America. Large project awards were being delayed as customers
reviewed demand, pricing and other savings opportunities. Flow Solutions
Division bookings decrease was primarily attributable to decreased original
equipment. The decrease in FSD sales was driven by sales declines in all