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Pentair plc (NYSE: PNR), Manchester, UK, reported second-quarter sales of $1.9 billion, a year-over-year decrease of 3 percent. Profit was $161.5 million, a year-over-year increase of 5 percent.
Valves & controls delivered second-quarter sales of $634 million, up 2 percent versus the prior year quarter. Backlog increased 2 percent to $1.4 billion compared to first quarter 2014.
Sales in energy vertical, 60 percent of valves & controls revenue in the quarter, were flat. Sales in the industrial vertical, 40 percent of valves & controls revenue, increased 6 percent.
Process technologies second quarter sales were $497 million, up 4 percent versus the prior year quarter.
Flow technologies, excluding the water transport business, delivered second quarter 2014 sales of $300 million, down 2 percent versus the prior year quarter.
Technical solutions delivered second quarter 2014 sales of $409 million, up 3 percent versus the prior year quarter.
For the first six months of 2014, sales were $3.6 billion, down 3 percent from the prior-year period. Profit grew 36 percent to $280.1 million.