Operating margins and overall profitability were up in the quarter as a result, in part, to our continued discipline in driving SG&A efficiency and controlling costs. One real success in this area has been the reduction of our corporate SG&A expenses. We were also pleased by the improvement we saw on our IPD operations where our recovery plan is starting to take affect. We continue to work towards achieving our goal of IPD operating margins between 14% and 15% by 2015.Overall, I am very proud of what we accomplish this quarter and the progress we have made, but we still have areas for improvement. We are very focused on our operating metrics, including cash flow and working capital, both of which dick will discuss in detail later in the call. And we are also very focused on improving our operational performance, which is a key driver in our organization.
Flowserve's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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