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Crane Co. Reports Record Third Quarter Results

Segment Results

All comparisons detailed in this section refer to continuing operations for the third quarter 2012 versus the third quarter 2011.

Aerospace & Electronics

        Third Quarter   Change
(dollars in millions) 2012   2011  
 
Sales $171.4 $172.2 ($0.8) (0%)
 
Operating Profit $39.8 $35.6 $4.2 12%
 
Profit Margin 23.2% 20.7%
 

Third quarter 2012 sales were similar to year ago levels, reflecting flat Aerospace Group sales and a slight decline in Electronics Group revenue. Within the Aerospace Group, both OEM and aftermarket sales were approximately equal to the prior year. Segment operating profit of $39.8 million increased by $4.2 million, or 12%, primarily reflecting lower engineering spending, and operating margin improved to 23.2%.

Aerospace & Electronics order backlog was $393 million at September 30, 2012, as compared to $423 million at June 30, 2012 and $411 million at December 31, 2011.

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