Garlock Sealing Technologies Announce Third Quarter 2010 Results
Tuesday, November 09, 2010
Garlock Sealing Technologies (GST) and its subsidiaries
performed well in the third quarter, and business there has continued as usual,
with no significant distraction from the asbestos claims resolution process.
Third-party sales increased by 23% compared to the third quarter of 2009, when
GST was consolidated in EnPro's results. GST benefited from favorable demand in
almost all product lines as activity levels picked up in most of its markets.
GST's segment profit increased by 64% to $8.7 million and segment profit
margins improved by more than four percentage points. GST's income before
selected items improved 50% to $5.7 million. More…