Fourth quarter 2012 sales declined $2.5 million, or 1%, driven primarily by weaker European end markets. Segment operating margin improved to 13.9%, reflecting improved execution, productivity gains and solid cost management. Fluid Handling order backlog was $327 million at December 31, 2012, compared to $331 million at September 30, 2012 and $314 million at December 31, 2011.

Fourth Quarter Change
(dollars in millions) 2012 2011
Sales $20.8 $22.2 ($1.4) -6%
Operating Profit $2.3 $2.3 ($0.0) -2%
Profit Margin 11.1% 10.5%

Fourth quarter 2012 sales of $20.8 million decreased 6% compared to the fourth quarter of 2011, reflecting slightly weaker industrial demand. Operating profit was flat, as deleverage on the lower sales was offset by productivity gains.

If you liked this article you might like

The 'Secret Sauce' of Investing

Analysts' Actions -- AIG, Kroger, Sysco, Whole Foods, Valero and More

Cramer: These Sectors Look Bullish (Part II)

Cramer: There Are Powerful Themes in Several Bull Markets

Analysts' Actions -- Danaher, Twilio, Under Armour, UPS and More