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The manufacturer recorded a full-year loss of $36.4 million, compared to a year-ago loss of $2.6 million.
For the fourth quarter, sales were $460 million, up 13 percent in a year-over-year comparison. Profit was $16.3 million, compared to year-ago profit of $5.1 million.
Process & Motion Control sales in the fourth quarter increased 15 percent from the prior year to $328 million. Core PMC sales also increased 15 percent in the quarter, driven by solid international growth, improving demand in North America and market share gains across many of our products.
Water Management net sales in the fourth quarter increased 8 percent from the prior year fourth quarter to $132 million. Core Water Management sales also increased 8 percent in the quarter as targeted market share gains and growth in alternative markets more than offset the overall decline in the non-residential construction markets.