During Q4, we also had 2 notable accomplishments that improved our position in late-cycle power markets. We substantially completed the construction of our large Power Transformer plant, and we are beginning production at the new facility. And we formed a joint venture with Shanghai Electric to enhance our competitive position in China and other emerging markets for some of our Thermal products. The joint venture has already received an indication for its first significant order, and we expect it to benefit this year and beyond from China's investment in power infrastructure. We're very encouraged with the progress we've made, and we plan to continue focusing on strategic actions in 2012.Moving on to the financial results for Q4. Revenue increased 13% over last year to nearly $1.5 billion. From an organic perspective, revenue grew 11%, with all 4 segments reporting organic growth. Segment income was $177 million, up 10% over last year, and our segment margin was 11.9%. In the quarter, Flow accounted for nearly 50% of our total segment income. We're very pleased with Flow's operating results, which included 13% organic revenue growth and segment income margins greater than 15%.
SPX's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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