Flowserve Q2 Profit Rises

By RTT News, 
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(RTTNews.com) - Flow control products company Flowserve Corp. ( FLS ), said its second-quarter net income attributable to the company of $123.5 million or $0.90 per share, compared to $120.4 million or $0.84 per share in the prior-year quarter.

On average, seventeen analysts polled by Thomson Reuters expected earnings of $0.93 per share for the quarter. Analysts' expectations typically exclude one time items.

Sales for the latest second quarter declined to $1.22 billion from $1.24 billion in the corresponding quarter last year, while sixteen analysts had a consensus revenue estimate of $1.27 billion for the quarter.

Looking ahead to the full year 2014, the company reaffirmed its earnings in the range of $3.65 per share to $4.00 per share and full year revenues in the lower half of the 3 to 6 percent revenue target range, which includes the impact of a first quarter business sale and foreign currency headwinds.

Analysts currently anticipate earnings of $3.91 per share for the year, with revenues of 3.40%.

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This article appears in: Earnings

Referenced Stocks: FLS , TRI

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