Gardner Denver sales fall
Pump and compressor manufacturer Gardner Denver reported 1Q revenues were $513.5 million, down 15% compared with the prior year first quarter.
Net income was $45.7 million, or 93 cents per share, compared with $54.8 million, or $1.08, in the same period of 2012.
"We were pleased with our first quarter results in a challenging environment," said Michael M. Larsen, Gardner Denver's president and chief executive officer. "I am encouraged by our sequential order growth in the first quarter as orders grew 7% over the fourth quarter of 2012 and resulted in a book-to-bill ratio of 1.07."
Engineered Products Group revenues decreased 24% to $211.7 million compared with the same period of 2012, principally as a result of the expected lower shipments in the Petroleum & Industrial Pumps business.
Industrial Products Group revenues decreased 7% to $301.9 million for the first quarter of 2013 compared to the same period of 2012.
INDUSTRIAL SUPPLY MAGAZINE
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