CRANE REPORTS DECLINE IN PROFITS

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 26, 2011 15:48

CRANE REPORTS DECLINE IN PROFITS

Crane has reported a decline in profits for the fourth quarter. The company stated its prior-year quarter gains related to an agreement with Boeing and GE Aviation, as well as from the divestiture of its General Technology subsidiary. Crane’s net income attributable to shareholders for the fourth quarter declined to $39.39 million or $0.66 per share from $47.67 million or $0.81 per share in the previous year. Results for the quarter include reversal of tax provision on undistributed foreign earnings of $0.09 per share, restructuring charges of $0.09 per share and transaction costs of $0.02 per share associated with the acquisition of Money Controls.

Total net sales for the quarter increased 5% to $574.01 million from $545.00 million last year. Analysts estimated revenues of $554.84 million for the quarter.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 26, 2011 15:48
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ftechnology%2Fcrane-reports-decline-in-profits%2F"> registered </a> users can comment.