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Flowserve Sales Up 3% In 1Q

Flowserve Corp., Dallas, TX, supplier of fluid motion and control products and services, reported first quarter sales of $1.02 billion, up 3% from first quarter 2008. Profit improved 5% to $92.3 million.
Excluding negative currency effects, sales increased by 13%. The increase is largely attributable to higher sales by the Flowserve Pump Division arising from its strong backlog. On a company-wide basis, original equipment sales increased approximately 5%, while aftermarket sales were comparable to the same period in 2008.

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