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Valve Manufacturing

Colfax Reports Second Quarter 2014 Results

Colfax Corporation announced its financial results for the second quarter ended June 27, 2014. The company has not yet finalized the second quarter tax provision. Net sales were $1.199 billion, in the second quarter, an increase of 11.7% from the prior year. Net sales decreased 5.0% organically compared to the second quarter of 2013. Second quarter operating income was $95.7 million, with adjusted operating income of $109.1 million, a decrease of 6%.

Second quarter gas- and fluid-handling orders were $593.8 million compared to orders of $478.2 million in Q2 2013, an increase of 24.2% and an organic increase of 4.6%. Gas- and fluid-handling finished the period with backlog of $1.585 billion.

For the six months ended June 27, 2014, adjusted net income was $111.2 million, or $0.91 per share. Net sales for the six months ended June 27, 2014 were $2.254 billion, an increase of 11.5% compared to net sales for the six months ended June 28, 2013. Operating income for the six months ended June 27, 2014 was $183.4 million, with adjusted operating income of $203.2 million, an increase of 4%. 

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