Pentair Valves & Controls delivered first quarter 2014 sales of $535 million, down 9% versus the prior year quarter. Backlog increased 2% to $1.4 billion compared to fourth quarter 2013.
Pentair Valves & Controls delivered first quarter adjusted operating income of $62 million, up 4% compared to $59 million in the same quarter last year. First quarter adjusted operating margins increased 140 basis points to 11.5%. Price and productivity more than offset inflation during the quarter. Including repositioning and other charges, Pentair Valves & Controls reported a GAAP operating income of $52 million in the first quarter.