Crane Co. Reports Fourth Quarter Results
Thursday, January 26, 2012
Crane Co. reported a fourth quarter 2011 net loss of $2.16
per share, compared to earnings of $0.66 per diluted share in the fourth
quarter of 2010. Fourth quarter 2011 results include an after-tax asbestos
provision of $157 million and an after-tax environmental provision of $20
million (totaling $3.05 per share).
Fourth quarter 2011 sales increased in the Fluid Handling
segment $35.8 million, or 13.7%, which included a core sales increase of $29.9
million (11.4%), an increase in sales from the acquisition of W. T. Armatur
(WTA) of $4.8 million (1.9%), and favorable foreign currency translation of
$1.0 million (0.4%). More...