Diversified manufacturer Crane Co. (NYSE: CR), Stamford, CT, reported first-quarter sales of $628 million, a decrease of 2.8 percent compared to the same period a year earlier. Core sales declined 2.4 percent. Profit increased 11.9 percent to $57.8 million.

First quarter results included transaction costs of $2.9 million, related to the $820 million pending acquisition of MEI Conlux Holdings.

Aerospace & Electronics sales decreased 6 percent to $164.9 million, reflecting a 4 percent decline in Aerospace Group sales and an 8 percent decline in Electronics Group sales. The Aerospace Group sales decrease reflected lower commercial spares activity and the completion of a military upgrade program in 2012. The decline in Electronics Group sales primarily reflected delays in defense-related programs. Operating profit increased 5 percent to $40.1 million.

Engineered Materials segment sales of $60.2 million were 4 percent higher than the first quarter of 2012, reflecting higher sales to recreational vehicle equipment manufacturers. Operating profit increased 2 percent to $8.6 million.

Merchandising Systems sales of $89.5 million increased 2 percent, with strong sales in Payment Solutions, partially offset by a decline in Vending Solutions. Operating profit  increased 116 percent to $10.2 million.

Fluid Handling sales declined 4 percent, which included a core sales decline of 3 percent. The core sales decline was driven by weak orders in certain short cycle businesses and project delays in 2013. Operating profit increased 7 percent to $45.9 million.