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CIRCOR Announces Availability of Historical Segment Information


CIRCOR International announced the availability of certain historical segment information reflecting its previously announced organizational realignment beginning in the fourth quarter of 2016.

The new “Energy” segment, including the recent acquisition of Critical Flow Solutions, will prima...


Curtiss-Wright, Clarke Industrial Engineering Sign Licensing Agreement


Clarke Industrial Engineering has entered into a licensing agreement with Curtiss-Wright Corporation, whereby Clarke’s patented and proprietary Shutter Valve technology will be exclusively available to Curtiss-Wright for the worldwide naval defense market, the U.S. maritime homeland security mar...


New Investments Spur Permian Oil Production Increase


The Department of Energy (DOE) said on Tuesday that oil production in the Permian Basin could increase by 53,000 bpd by next month. According to the Energy Information Administration (EIA), that is the largest monthly increase in the region in a year.

“The EIA’s first shale oil forecast o...


Why is Oil & Gas Slow to Adopt Cloud Technology?


“There are endless benefits to implementing a cloud-based system, many of which center around less waste and less hassle, but due to operational characteristics, oil & gas companies stand to benefit more than most.”

“Yet, while being among the sectors that stand to gain most fro...


Industrial Production Sees Largest Rise in More Than Two Years


Industrial production rose 0.8% in December, the largest increase since November 2014, after falling 0.7% the previous month. For the fourth quarter as a whole, the index slipped 0.6% at an annual rate.

Manufacturing output moved up 0.2% in December, as an increase in durable manufacturing outweighed d...


IMF Raises U.S. Economic Growth Forecast


After a lackluster outturn in 2016, economic activity is projected to pick up pace in 2017 and 2018, especially in emerging market and developing economies. However, the International Monetary Fund (IMF) noted in its new World Economic Outlook, there is a wide dispersion of possible outcomes around ...


Flowserve Reports Second Quarter 2012 Results

Flowserve Corp. announced financial results for the second quarter of 2012 yesterday.

Bookings in Flowserve's flow control division (FCD) for the second quarter of 2012 were $411.6 million, a decrease of $28.4 million, down 6.5%, or 0.5% excluding negative currency effects of approximately $26 million. FCD sales for the second quarter of 2012 were $401.5 million, an increase of $14.4 million, up 3.7%, or 11.0% excluding negative currency effects of approximately $28 million.

FCD gross profit for the second quarter of 2012 increased to $132.3 million, up $0.4 million or 0.3%. Gross margin for the second quarter of 2012 decreased 110 basis points to 33.0%, which was primarily attributable to product line mix and a sales mix shift to original equipment.

FCD operating income for the second quarter of 2012 increased to $60.4 million, up $0.5 million or 0.8%, including negative currency effects of approximately $4 million. The increase was primarily attributable to slightly improved gross profit and reduced SG&A. Operating margin decreased 50 basis points to 15.0%.

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