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Revenue declines may be stabilizing.
David J. Wilson was most recently president of the Pumps Division of Flowserve Corporation, a provider of flow control products and services for the global infrastructure markets.
The company withdrew its full-year 2020 outlook on April 28, 2020, due to the uncertain impact of the COVID-19 pandemic and committed to provide monthly updates until it is better able to forecast future performance.
Combined net sales for the fiscal months of March and April (the first two months of the Company's fiscal third quarter) were $565.4 million, a decrease of 7.8% compared to the same period in the prior fiscal year.
Average daily net sales increased 0.2%.
The increase was mostly due to the acquisition of Ingersoll-Rand plcs Industrial segment by Gardner Denver Holdings, Inc. in February of 2020.
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The company reported a loss for the quarter of $248.2 million, compared to a loss of $19.5 million during the first quarter of 2019.
The unemployment rate rose to 14.7%, the highest rate and the largest over-the-month increase in the history of the series.
