Magazine

Curtiss-Wright Reports Second Quarter and Six Months 2012 Financial Results

Curtiss-Wright Flow Control sales for the second quarter of 2012 were $275 million, an increase of $8 million, or 3%, over the comparable prior year period. The performance was led by an 11% increase in the power generation market due to increased production on AP1000 reactor projects in the U.S. and China, as well as higher demand for aftermarket products for existing operating reactors. The 2011 acquisitions of Anatec and LMT contributed approximately $8 million in sales in the current quarter to this market. Within the oil and gas market, which had slightly higher sales overall, stronger global Maintenance, Repair and Overhaul (MRO) products and vessel sales were mostly offset by lower demand in large international projects business. In addition, general industrial sales were lower in the quarter, primarily due to slower demand for control systems for commercial heating, ventilation and HVAC customers.