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Idex 1Q Profit Falls 42.9 Percent As Economy Slows

Stock quotes in this article: IEX  

NORTHBROOK, Ill. (AP) — Pump and metering products maker Idex Corp. said on Monday its first-quarter profit fell 42.9 percent as it struggled with falling revenue in a slow economy.

The company said it earned $22.6 million, or 28 cents per share, down from $39.6 million, or 48 cents per share, during the same period last year. Revenue fell 12.1 percent to $326.6 million, from $371.7 million during the same period last year.

The company said it would have earned 33 cents per share if not for restructuring-related charges and an inventory expense. ...

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