Flowserve Reports First Quarter 2014 Results
Monday, April 28, 2014
Flowserve reported first-quarter net income of $107.7 million, up from $97.8 million in the prior-year quarter. On a per share basis, earning rose 16.4% to $0.78 from $0.67 in the year-ago quarter.
Sales for the first quarter dropped 2.6% to $1.07 billion from $1.10 billion compared to the first quarter last year.
Gross margin for the quarter improved 130 basis points to 35.3%, while SG&A expense dropped 7.8%. More...
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