Crane Co. (CR, Financial) filed Quarterly Report for the period ended 2011-06-30.
Crane Co. has a market cap of $2.35 billion; its shares were traded at around $41.12 with a P/E ratio of 13.52 and P/S ratio of 1.06. The dividend yield of Crane Co. stocks is 2.28%. Crane Co. had an annual average earning growth of 1% over the past 5 years.
Aerospace Group sales of $104.1 million increased $18.3 million, or 21.3%, from $85.8 million in the prior year period. The increase was largely attributable to higher OEM product sales of 20.4% and higher aftermarket product sales of 22.0%. The OEM sales increase reflects broad based growth across large commercial transports, regional and business jets. The aftermarket sales increase reflects significantly higher spares and repair and overhaul (R&O) product sales, as well as modernization and upgrade product sales, primarily associated with the C130 carbon brake control upgrade. During the second quarter of 2011, sales to OEMs and sales to aftermarket customers were 57.2% and 42.8%, respectively, of total sales, compared to 57.5% and 42.5%, respectively, in the same period last year. Operating profit increased by $8.9 million in the second quarter of 2011, compared to the second quarter of 2010, primarily due to leverage on the higher sales volume. Total engineering expense for the Aerospace Group was $11.1 million in the second quarter of 2011, which compared to $10.8 million in the second quarter of 2010.
Electronics Group sales of $67.4 million increased $13.9 million, or 26.0%, from $53.5 million in the prior year period. The increase was due to higher core sales of $12.5 million, driven by higher sales of our Power Solutions, Microwave and Microelectronics products. Operating profit increased $2.0 million compared to the second quarter of 2010, primarily reflecting the favorable impact of the higher sales volume.
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Crane Co. has a market cap of $2.35 billion; its shares were traded at around $41.12 with a P/E ratio of 13.52 and P/S ratio of 1.06. The dividend yield of Crane Co. stocks is 2.28%. Crane Co. had an annual average earning growth of 1% over the past 5 years.
Highlight of Business Operations:
Operating profit was $79.9 million in the second quarter 2011 compared to $65.3 million in the comparable period of 2010. The increase in operating profit reflected improved performance in our Aerospace & Electronics, Fluid Handling and Controls segments, partially offset by lower operating profit in our Engineered Materials and Merchandising Systems segments. Operating profit margins were 12.4% in the second quarter of 2011, compared to 11.8% in the comparable period in 2010.Aerospace Group sales of $104.1 million increased $18.3 million, or 21.3%, from $85.8 million in the prior year period. The increase was largely attributable to higher OEM product sales of 20.4% and higher aftermarket product sales of 22.0%. The OEM sales increase reflects broad based growth across large commercial transports, regional and business jets. The aftermarket sales increase reflects significantly higher spares and repair and overhaul (R&O) product sales, as well as modernization and upgrade product sales, primarily associated with the C130 carbon brake control upgrade. During the second quarter of 2011, sales to OEMs and sales to aftermarket customers were 57.2% and 42.8%, respectively, of total sales, compared to 57.5% and 42.5%, respectively, in the same period last year. Operating profit increased by $8.9 million in the second quarter of 2011, compared to the second quarter of 2010, primarily due to leverage on the higher sales volume. Total engineering expense for the Aerospace Group was $11.1 million in the second quarter of 2011, which compared to $10.8 million in the second quarter of 2010.
Electronics Group sales of $67.4 million increased $13.9 million, or 26.0%, from $53.5 million in the prior year period. The increase was due to higher core sales of $12.5 million, driven by higher sales of our Power Solutions, Microwave and Microelectronics products. Operating profit increased $2.0 million compared to the second quarter of 2010, primarily reflecting the favorable impact of the higher sales volume.
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