Crane Co. Reports Fourth Quarter '08 Results
Thursday, January 29, 2009
Crane’s
fluid handling segment had fourth quarter 2008 sales decreased $22.2 million,
or 7%, including unfavorable foreign currency translation of $32.3 million
(11%) and a decline of $0.7 million of core sales, partially offset by sales
from acquired businesses, net of $10.8 million (4%). Profit margins increased
to 13.9% from 12.7%, as pricing discipline, productivity and a favorable sales
mix more than offset the effects of unfavorable foreign exchange and slightly
lower core sales volume. More..
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