Crane Co. (CR) Tops Q1 EPS by 7c; Guidance Reaffirmed
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Crane Co. Reports First Quarter Results
April 25, 2016 5:00 PM EDTSTAMFORD, Conn.--(BUSINESS WIRE)-- Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, reported first quarter 2016 earnings of $0.93 per diluted share, compared to $0.87 per share in the first quarter of 2015. Excluding Special Items, first quarter 2015 earnings per diluted share were $0.92. (Please see the attached Non-GAAP Financial Measures tables.)
First quarter 2016 sales were $660 million, a decrease of 3% compared to $679 million in the first quarter of 2015. The sales decline was comprised of a $13 million, or 2%, impact from unfavorable foreign exchange, and a core sales decline of $6 million, or 1%.
Operating profit... More
Arizona Jury Awards $17 Million in Asbestos Death of Navy Civilian Employee
April 22, 2016 6:16 PM EDTPHOENIX, April 22, 2016 /PRNewswire/ --Â A federal jury in Phoenix awarded $17 million in damages to the family of a retired civilian employee of the U.S. Navy who died from the fatal asbestos disease mesothelioma after working for years in the Norfolk Naval Shipyard in Virginia.
Trial testimony showed that George Coulbourn worked as a shipyard machinist from 1959 to 1966, where he primarily repaired and maintained equipment on naval ships. Those duties included the regular removal of asbestos-containing gaskets and packing from valves manufactured by the defendants and their predecessors.
Mr. Coulbourn died in 2012... More
