Crane Co. reported a fourth quarter 2011 net loss of $2.16 per share, compared to earnings of $0.66 per diluted share in the fourth quarter of 2010. Fourth quarter 2011 results include an after-tax asbestos provision of $157 million and an after-tax environmental provision of $20 million (totaling $3.05 per share).
Fourth quarter 2011 sales increased in the Fluid Handling segment $35.8 million, or 13.7%, which included a core sales increase of $29.9 million (11.4%), an increase in sales from the acquisition of W. T. Armatur (WTA) of $4.8 million (1.9%), and favorable foreign currency translation of $1.0 million (0.4%).
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