Crane Co. Reports Third Quarter Earnings Increased 27%
Tuesday, November 1, 2011
Third quarter 2011 sales in Crane’s Fluid Handling segment increased
$47.7 million, or 19%, which included a core sales increase of $28.2 million
(11%), favorable foreign currency translation of $14.4 million (6%), and sales
of $5.1 million (2%) from the W. T. Armatur acquisition. Sales increased and
order activity remained strong, particularly in the late, long cycle Energy and
ChemPharma businesses. Operating margins improved 50 basis points to 13.5%.
Backlog was $329 million at September 30, 2011, compared to $272 million at
December 31, 2010 and $267 million at September 30, 2010. More...
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