Industrial manufacturer Crane Co. (NYSE: CR), Stamford, CT, reported sales for the third quarter of $637.5 million, a decrease of 1.3 percent compared to the same period a year ago, resulting from a core sales decline of 1 percent and unfavorable foreign exchange of 0.3 percent. Profit was essentially flat at $57.1 million.
Aerospace & electronics sales were $169.8 million, a decrease of 0.9 percent compared to 2012 levels. Operating profit decreased 4.3 percent to $38.1 million.
Engineered materials sales were $62 million, an increase of 8.8 percent year-over-year. Operating profit jumped 49.3 percent to $10.8 million.
Merchandising systems sales were $83.6 million, a decrease of 9.6 percent compared to 2012 levels. Operating profit decreased 17.1 percent to $7.9 million.
Fluid handling sales were $322.2 million, a decrease of 0.9 percent from the prior year. Operating profit increased 1.9 percent to $46.6 million.
For the first nine months, sales for Crane Co. were $1.9 billion, a decrease of 1.8 percent compared to the same period a year ago. Profit decreased 0.9 percent to $169.8 million.
