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Crane Co. Reports Record Third Quarter Results

Fluid Handling

    Third Quarter   Change
(dollars in millions) 2012   2011  
 
Sales $303.1 $299.1 $4.0 1%
 
Operating Profit $42.9 $39.9 $3.0 8%
Operating Profit, before Special Items* $43.1 $39.9 $3.2 8%
 
Profit Margin 14.2% 13.3%
Profit Margin, before Special Items* 14.2% 13.3%
 
* Repositioning charges primarily associated with transferring production to lower cost Company facilities.
 

Third quarter 2012 sales increased $4 million, or 1%, including a core sales increase of $15 million (5%), partially offset by unfavorable foreign currency translation of $11 million (-4%). Before Special Items, operating profit increased to $43.1 million and operating margin increased from 13.3% to 14.2%, reflecting better project execution, price increases, and improved productivity. Backlog was $331 million at September 30, 2012, compared to $335 million at June 30, 2012 and $314 million at December 31, 2011.

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