01182019Fri
Last updateFri, 18 Jan 2019 3pm

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ITT Reports Solid 2008 Fourth Quarter and Full-Year Results

ITT's Fluid Technology segment reported fourth quarter 2008 revenue of $984 million, roughly flat on a year-over-year basis, with solid organic revenue growth of seven percent, offset by the negative impact of foreign currency exchange. Fourth quarter segment operating income was $96 million, which is down 24 percent from the comparable prior year period due primarily to higher costs associated with aggressive restructuring activity during the quarter.

Source: ITT

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Cameron Valves Orders Up Compared to Last Year

Cameron reported net income of $149.1 million, or $0.67 per diluted share, for the quarter ended December 31, 2008, compared with net income in the prior year’s fourth quarter of $125.9 million, or $0.54 per diluted share.

Orders booked in 2008’s fourth quarter totaled $1.17 billion, down from the $1.49 billion of a year ago, due to declines in Drilling & Production Systems and Compression Systems, although Valves & Measurement’s fourth quarter orders were up from the prior year.

Source: Cameron

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Crane Co. To Present at the Gabelli 19th Annual Pump, Valve and Motor Symposium

Crane Co. announced that Max Mitchell, Group President Fluid Handling, and Richard E. Koch, Director, Investor Relations and Corporate Communications will be speaking at the Gabelli 19th Annual Pump, Valve and Motor Symposium in New York City on Wednesday, Feb. 18 from 9:00 am to 9:30 am.

A simultaneous web cast and presentation slides will be available on the Company's web site www.craneco.com.  A web replay will be available on the same web site shortly after completion of the presentation.

Source: Crane

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SPX Announces Sale of DeZurik Product Line

SPX Corp. announced that it has sold the remaining portion of its DeZurik product line to Sartell Valves Inc., a Minnesota-based water and wastewater treatment company. Formerly part of SPX's flow technology segment, this DeZurik product line of industrial valves was previously reported as a discontinued operation at the end of the third quarter 2008.

Source: SPX

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