Crane Co. Reports Record Third Quarter Results
As part of its repositioning actions, the Company closed a small manufacturing facility in England. Repositioning costs of $1.1 million on a pre-tax basis were incurred in the third quarter of 2012.
Merchandising Systems
| Third Quarter | Change | ||||||||||
| (dollars in millions) | 2012 | 2011 | |||||||||
| Sales | $92.5 | $98.8 | ($6.3) | (6%) | |||||||
| Operating Profit | $9.5 | $10.8 | ($1.3) | (12%) | |||||||
| Profit Margin | 10.3% | 11.0% | |||||||||
Merchandising Systems sales of $92.5 million decreased $6.3 million, or 6%, reflecting lower sales in Vending and, to a lesser extent, Payment Solutions. Operating profit decreased $1.3 million, reflecting deleverage of the lower sales.
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