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Colfax's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: CFX

Now for a look at the specific results. Adjusted EPS for the 2012 quarter were $0.35 per share 21% higher than the $0.29 per share reported for the 2011 second quarter. Other than adjusted EPS, there is very little comparable between 2012 and 2011 due t the size of the acquired ESAB and Howden businesses.

Net sales for the 2012 second quarter were 1.50 billion an increase of 9.5% organically compared to the 1.20 billion pro forma sales for 2011 second quarter.

Turning now to our business segment. For gas and fluid handling, net sales for the second quarter were 497 million which represents an increase of 13% organically compared to 461 million pro forma revenue in last second quarter.

With respect to our end markets please refer to the slide for a specific growth rates. As you [read] that data you will note that currency had a negative 7% drag on sales and a negative 6% decrease in orders for the period of 2011 second quarter. In reviewing end markets for the gas and fluid handling segment, I’ll begin by focusing on our largest sector power generation where our main products include axial and centrifugal fan, lubrication pump and rotary heat exchanges.

For the 2012 second quarter, sales increased 15% organically, sales were particularly strong in China and South Africa and as mentioned in our last comment or promised in the last quarter growth in China benefited from compliance with aggressive environmental regulations and a series of maintenance projects has provided growth in South Africa.

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