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Revenue of $868 million declined 5% in the quarter with an organic revenue decline of 5%. An 8% growth in Thermal Controls and a 9% growth in Water was more than offset by a 12% decline in the Valves business. Orders increased 5% in the quarter, excluding the impact of foreign currency and a large Australian desalination project in the Pacific water business recorded last year. Backlog of $1.5 billion decreased 5% on a quarter sequential basis, excluding the impact of foreign currency, primarily due to a decrease in Pacific water.
Source: Tyco
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