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Back You are here: Home News Industry Headlines Valve Manufacturing Curtiss-Wright Flow Control Reports Third Quarter, Nine Months Financial Results

Valve Manufacturing

Curtiss-Wright Flow Control Reports Third Quarter, Nine Months Financial Results

Curtiss-Wright Flow Control sales for the third quarter of 2013 were approximately $311 million, an increase of $75 million, or 32%, over the comparable prior year period, with nearly $58 million in this sales growth coming from the acquisitions of Cimarron, Phönix and AP Services serving the oil and gas and power generation markets. Within the power generation market, sales also increased due to solid global aftermarket demand and technology upgrades supporting existing nuclear reactors, despite fewer domestic outages, as well as higher revenues on the domestic AP1000 program.

Operating income in the third quarter of 2013 was $25 million, an increase of approximately $24 million from the comparable prior year period, while operating margin increased 750 basis points to 8.0%. The aforementioned acquisitions contributed approximately $3 million to operating income; however the acquisitions were 80 basis points dilutive to operating margin in the current quarter. Operating income and operating margin, excluding acquisition dilution, increased 3% or 30 basis points, as compared to 2012 adjusted third quarter results. 

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