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Crane Co. Reports Strong Earnings in First Quarter; Raises Full Year EPS Guidance Range

Thursday, April 21, 2011  
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First quarter 2011 sales in Crane’s Fluid Handling Group increased $16.4 million, or 6.6%, which included a core sales increase of $10.9 million (4.4%), and favorable foreign currency translation of $5.5 million (2.2%). Orders strengthened across Fluid Handling end markets and were particularly strong in ChemPharma and Energy. Sales, operating profit and margin improvement was broad based across the Group. The sales increase was effectively leveraged with operating margins improving from 11.3% to 13.4%. Backlog increased to $305 million at March 31, 2011, compared to $272 million at December 31, 2010 and $254 million at March 31, 2010. More…

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