Diversified manufacturer Crane Co. (NYSE: CR), Stamford, CT, reported first-quarter sales of $678.8 million, a decrease of 5.3 percent compared to the previous year period, with core sales up slightly. Profit increased 4.9 percent to $51.1 million.
First-quarter fluid handling sales fell 11 percent, while aerospace and electronics sales fell 4 percent. Engineered materials sales rose 3 percent, and payment & merchandising technologies sales rose 2 percent.
“The quarter developed as we expected,” said Max Mitchell, president and CEO. “Depressed demand across Fluid Handling end markets was consistent with our year-end outlook, and we were particularly pleased with the improved organic growth at Payment & Merchandising Technologies."