Flowserve Reports Record Full Year 2008 EPS of $7.74, up 74%

Flowserve Corp. announced record full year and fourth quarter earnings per share and sales in its 2008 Form 10-K Report filed with the Securities and Exchange Commission. The company announced record full year and fourth quarter fully diluted EPS of $7.74, up 74% and $2.03, up 22%, respectively, and full year and fourth quarter operating income of $613 million, up 50% and $159 million, up 16%, respectively. The company indicated that EPS and operating income growth outpaced strong full year and fourth quarter sales growth of $4.47 billion, up 19%, and $1.17 billion, up 5%, respectively. Flowserve also posted previously announced record full year bookings of $5.11 billion, an increase of 18%, or 13% excluding currency benefits and the financial impact of the 2008 acquisition of the remaining external interests in the company's Niigata Worthington joint venture. Fourth quarter bookings of $1.02 billion decreased 8%, or down 3% excluding the net impact of negative currency effects and the Niigata acquisition. More…