Crane Co. reported second quarter 2013 earnings of $0.93 per diluted share, compared to $1.07 in the second quarter of 2012.
Second quarter 2013 sales in Crane’s Fluid Handling segment increased $6.7 million, or 2%, which included a core sales increase of $9.2 million (3%), and unfavorable foreign exchange of $2.5 million (1%). The sales increase reflected higher demand from chemical, energy and nuclear valve services customers. Excluding Special Items, segment operating margin increased from 12.8% to 16.2%, reflecting continued strong execution, productivity gains and savings associated with the repositioning actions taken in 2012. Fluid Handling order backlog was $350 million at June 30, 2013, compared to $343 million at December 31, 2012 and $351 million at June 30, 2012.