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Flowserve Reports Third Quarter Sales of $1.05 Billion

Friday, October 30, 2009  
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Flowserve Corp. announced third quarter fully diluted EPS of $2.07, up $0.03 or 1%, including realignment charges of $0.05. Bookings for the third quarter were $975 million, down 29%, or 26% excluding negative currency effects of $37 million. Third quarter sales were $1.05 billion, down 9%, or 5% excluding negative currency effects of $47 million.

Flow Control bookings decrease was generally attributable to weakness in the chemical and general industries markets in Europe, Middle East and Africa and Asia Pacific, partially offset by nuclear orders in North America. Large project awards were being delayed as customers reviewed demand, pricing and other savings opportunities. Flow Solutions Division bookings decrease was primarily attributable to decreased original equipment. The decrease in FSD sales was driven by sales declines in all regions. More…

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