Manufacturing Industry
CRANE CO. REPORTS SECOND QUARTER RESULTS OF $0.44 PER SHARE.
Advanced Materials & Composites News, August, 2002
July 18, 2002 - Crane Co. (NYSE: CR) reported second quarter 2002 net income of $26.6 million, or $.44 per share, compared with $32.5 million, or $.54 per share, for the second quarter of 2001. Earnings results were slightly ahead of the Company's guidance of $.40-$.42 per share for the second quarter.
Operating profit for the second quarter of 2002 was $43.3 million on sales of $391.6 million compared with $55.2 million on sales of $409.0 million for the second quarter of 2001. Operating profit for the second quarter of 2001 included $4.4 million of goodwill amortization ($.07 per share after tax). Year-to-date, operating profit was $80.1 million on sales of $763.2 million, compared with $92.5 million on sales of $788.3 for the same period of 2001. Operating...
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