04192019Fri
Last updateFri, 19 Apr 2019 3pm

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Crane Co. Reports First Quarter '09 Results

Crane Co. reported first quarter 2009 net income of $23.3 million, or $0.40 per diluted share, compared with first quarter 2008 net income of $48.4 million, or $0.79 per diluted share. First quarter 2009 net income included an after-tax charge of $5.0 million, or $0.09 per share, related to a legal settlement separately announced today; excluding this charge, first quarter 2009 net income would have been $28.1 million, or $0.48 per diluted share.

Source: Crane Co.

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Outlook and Forecast for China's Valve Industry

China's valve market has achieved heady growth in recent years due to the favorable national policies and strong demand from downstream sectors. But the growth of the market slowed down in 2008 because of the global economic crisis in 2008, only up by 13.7% year-on-year.

Source: Bharat Book

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SPX Lowers Revenue Expectations for Q1 and Full Year

SPX Corp. announced updated revenue and earnings expectations for 2009. For the first quarter, revenues are expected to be down approximately 14% as compared to the first quarter of 2008. Organic revenues* for the first quarter are expected to decline 7%, while the impact of currency fluctuations is expected to reduce reported revenues by an additional 7%.

Source: SPX

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Interstate Specialty Products Joins VMA

The Valve Manufacturers Association welcomes Interstate Specialty Products (ISP) of Sutton, MA as their newest associate member. Started in 1963, ISP converts and distributes custom solutions for Science and Industry. The company specializes in precision die cutting and fabrication of plastics, filter media, specialty elastomers and custom gaskets from a multitude of materials. ISP also stocks a complete line of Porex Porous Plastics sheets, rods and tubes.

 

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