Crane Co. Reports Strong Earnings in First Quarter; Raises Full Year EPS Guidance Range
Thursday, April 21, 2011
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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