Breaking News Bar

Business News and Information

CIRCOR Reports Second Quarter Earnings of $1.08 Per Share

BURLINGTON, Mass., July 30 /PRNewswire-FirstCall/ -- CIRCOR International, Inc. (NYSE: CIR), a leading provider of valves and other fluid control devices for the instrumentation, aerospace, thermal fluid and energy markets, today announced results for the second quarter ended June 29, 2008.

Revenues for the 2008 second quarter were $206.6 million, an increase of 25% from $165.9 million for the second quarter 2007. Net income for the second quarter of 2008 increased 84% to $18.4 million, or $1.08 per diluted share. Net income for the second quarter of 2007 was $10.0 million, or $0.60 per diluted share, which included $0.03 per diluted share of special charges primarily related to the consolidation of manufacturing facilities.

For the six months ended June 29, 2008, revenues were $383.2 million, an increase of 17% from $327.2 million for the comparable period in 2007. Net income for the first half of 2008 was $31.3 million, or $1.85 per diluted share, an increase of 80% from $17.4 million, or $1.05 per diluted share, from the first half of 2007.

The Company received orders totaling $197.9 million during the second quarter of 2008 a decrease of 13% from the second quarter of 2007, and a 17% decrease from the first quarter of 2008. The year-over-year reduction in activity was primarily driven by exceptional energy project orders in the second quarter of 2007. Sequentially, the reduction was due primarily to strong maritime orders and energy project orders in the first quarter of 2008. For the first six months of 2008, orders totaled $434.9 million with a second quarter 2008 ending backlog of $446.0 million. This compares to 2007 orders for the first six months of $415.2 million and a second quarter 2007 ending backlog of $373.7 million and represents year-over-year increases of 5% and 19%, respectively.

During the second quarter of 2008, the Company generated $31.6 million of free cash flow (defined as net cash from operating activities, less capital expenditures and dividends paid) and, for the first six months of 2008, the Company had free cash flow of $26.2 million. This compares favorably to the first six months of 2007 during which the Company generated zero free cash flow. The improvement from 2007 largely resulted from the sharp increase in profitability and reduced working capital needs.

Circor's Instrumentation and Thermal Fluid Controls Products segment revenues increased 15%, to $98.9 million from $85.7 million in the second quarter 2007, with approximately 4% of the increase due to favorable currency adjustments. Incoming orders for this segment were $101.0 million for the second quarter 2008, an increase of 2% from $99.1 million in the second quarter 2007 despite the fact that the 2007 second quarter orders included stronger multi-quarter aerospace orders. This segment's operating margin for the second quarter 2008 was 10.9% compared to 8.7% in the second quarter of 2007, and 11.3% in the first quarter of 2008. Compared to the second quarter of 2007 improvement primarily came from price, mix of shipments, volume and productivity.

Circor's Energy Products segment revenues increased by $27.5 million, or 34%, to $107.7 million for the quarter ended June 29, 2008 compared to $80.2 million in the quarter ended July 1, 2007. Higher foreign exchange rates, primarily the higher Euro compared to the US dollar, accounted for approximately 12% of the incremental revenue increase. Incoming orders for the quarter were $96.9 million, a decrease of 25% compared to $129.3 million in the second quarter of 2007 which included some strong multi-quarter oil and gas project orders. This segment's operating margin was 20.4% during the second quarter of 2008 compared to 16.3% for the second quarter of 2007 and 16.2% for the first quarter of 2008. Consistent with the first quarter of 2008, margins benefited from favorable mix on large international oil and gas projects and increased unit volume, partially offset by material inflation and unfavorable currency impacts from China sourcing as the RMB continued to appreciate versus the US dollar.

Bill Higgins, Circor's President and Chief Executive Officer, said, "Our second quarter results once again exceeded our expectations, producing another record quarter with operating margins of 13.3% compared to 9.5% for the similar period in 2007 and 11.0% in the first quarter of 2008. Also, free cash flow has greatly exceeded the first half of last year. Both segments continued to contribute with Instrumentation and Thermal Fluids operating margins 220 basis points over the second quarter of 2007 and Energy Products 410 basis points higher. These strong results are the combination of many factors including solid global end markets, favorable European currencies and a great mix of products and projects as well as a continued focus on operational improvements."

Circor provided guidance for its third quarter 2008 results, indicating it expects earnings to be in the range of $0.90 to $1.00 per diluted share, excluding special charges.

CIRCOR International will hold a conference call to review its results on Thursday, July 31, 2008, at 1:00 pm ET. Interested parties may access the call by dialing 888-797-2994 from the US and Canada and (913) 312-6681 from international locations. A replay of the call will be available from 4:00 pm ET on Thursday, July 31, 2008, through 4:00 pm ET on Thursday, August 7, 2008. To access the replay, interested parties should dial (888) 203-1112 or (719) 457-0820 and enter confirmation code #9284343 when prompted. The presentation slides that will be discussed in the conference call are expected to be available today, Wednesday, July 30, 2008, by 6:00 pm ET and may be downloaded from the quarterly earnings page of the investor section on the CIRCOR website at http://www.circor.com/quarterlyearnings.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of CIRCOR. Actual events, performance or results could differ materially from the anticipated events, performance or results expressed or implied by such forward-looking statements. BEFORE MAKING ANY INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM 10-K, WHICH CAN BE ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT WWW.CIRCOR.COM. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.



                          CIRCOR INTERNATIONAL, INC.
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                    (in thousands, except per share data)
                                  UNAUDITED


                                    Three Months Ended      Six Months Ended
                                     June 29,    July 1,   June 29,    July 1,
                                       2008       2007       2008       2007


       Net revenues                 $206,605   $165,937   $383,180   $327,200
       Cost of revenues              139,698    116,116    261,383    232,587
         GROSS PROFIT                 66,907     49,821    121,797     94,613
       Selling, general and
        administrative expenses       39,417     33,376     74,637     65,464
       Special charges                     -        615        160      1,305
         OPERATING INCOME             27,490     15,830     47,000     27,844
       Other (income) expense:
         Interest income                (305)       (77)      (506)      (130)
         Interest expense                282        961        629      2,232
         Other (income) expense, net     248        214        648        118
           Total other expense           225      1,098        771      2,220
         INCOME BEFORE INCOME TAXES   27,265     14,732     46,229     25,624
       Provision for income taxes      8,840      4,714     14,909      8,200
         NET INCOME                  $18,425    $10,018    $31,320    $17,424

       Earnings per common share:
         Basic                         $1.09      $0.61      $1.87      $1.07
         Diluted                       $1.08      $0.60      $1.85      $1.05

       Weighted average common
        shares outstanding:
         Basic                        16,829     16,390     16,756     16,301
         Diluted                      17,053     16,679     16,965     16,582



                          CIRCOR INTERNATIONAL, INC.
                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (in thousands)
                                  UNAUDITED


                                                         Six Months Ended
                                                        June 29,      July 1,
                                                          2008         2007
    OPERATING ACTIVITIES
    Net income                                          $31,320      $17,424
    Adjustments to reconcile net income to net
     cash provided by operating activities:
      Depreciation                                        5,851        5,620
      Amortization                                        1,332        1,258
      Compensation expense of stock-based plans           2,642        1,711
      Tax effect of share based compensation             (1,639)      (2,065)
      Loss on sale of assets held for sale                    1          210
      Gain on disposal of property,
       plant and equipment                                  (60)         (28)
      Equity in undistributed income
       of affiliates                                          -           43

      Changes in operating assets and liabilities,
       net of effects from business acquisitions:
       Trade accounts receivable                        (13,668)         938
       Inventories                                       (1,039)     (15,276)
       Prepaid expenses and other assets                 (3,044)      (6,927)
       Accounts payable, accrued expenses
        and other liabilities                            12,015        2,367
    Net cash provided by operating activities            33,711        5,275

    INVESTING ACTIVITIES
    Additions to property, plant and equipment           (6,267)      (4,042)
    Proceeds from disposal of property, plant
     and equipment                                          162          412
    Proceeds from sale of assets held for sale              311          508
    Purchase of ST investments                          (91,346)
    Proceeds from sale of ST investments                 69,306
    Business acquisitions, net of cash acquired          (7,263)           -
    Net cash used in investing activities               (35,097)      (3,122)

    FINANCING ACTIVITIES
    Proceeds from debt borrowings                        54,505       45,994
    Payments of debt                                    (53,294)     (55,616)
    Dividends paid                                       (1,257)      (1,223)
    Proceeds from the exercise of stock options           2,275        2,611
    Tax effect of share based compensation                1,639        2,065
    Net cash provided by (used in) financing
     activities                                           3,868       (6,169)
    Effect of exchange rate changes on cash
     and cash equivalents                                 1,691          645

    INCREASE (DECREASE) IN CASH AND
     CASH EQUIVALENTS                                     4,173       (3,371)
    Cash and cash equivalents at beginning of year       34,662       28,652
    CASH AND CASH EQUIVALENTS AT END OF PERIOD          $38,835      $25,281



                          CIRCOR INTERNATIONAL, INC.
                         CONSOLIDATED BALANCE SHEETS
                      (in thousands, except share data)
                                  UNAUDITED

                                                      June 29,    December 31,
                                                        2008          2007

       ASSETS
       Current Assets:
         Cash & cash equivalents                      $38,835       $34,662
         Investments                                   31,590         8,861
         Trade accounts receivable, less
          allowance for doubtful accounts
          of $2,225 and $2,151, respectively          144,876       125,663
         Inventories                                  179,953       171,661
         Prepaid expenses and other current assets      6,435         3,990
         Deferred income taxes                          8,927         8,220
         Insurance receivable                           6,912         6,885
         Assets held for sale                               -           312
           Total Current Assets                       417,528       360,254

       Property, Plant and Equipment, net              85,617        82,465

       Other Assets:
         Goodwill                                     184,914       169,110
         Intangibles, net                              47,733        47,373
         Non-current insurance receivable               5,848         5,014
         Other assets                                   1,912        12,253
       Total Assets                                  $743,552      $676,469

       LIABILITIES AND SHAREHOLDERS' EQUITY
       Current Liabilities:
         Accounts payable                             $91,322       $82,038
         Accrued expenses and other
          current liabilities                          77,072        72,481
         Accrued compensation and benefits             19,501        21,498
         Asbestos liability                             9,723         9,697
         Income taxes payable                          14,259         7,900
         Notes payable and current portion
          of long-term debt                               388           201
           Total Current Liabilities                  212,265       193,815

       Long-Term Debt, net of current portion          23,241        21,901
       Deferred Income Taxes                           19,786        19,106
       Long-Term Asbestos Liability                     8,774         7,062
       Other Non-Current Liabilities                   13,528        14,201
       Shareholders' Equity:
         Preferred stock, $.01 par value;
          1,000,000 shares authorized;
          no shares issued and outstanding                  -             -
         Common stock, $.01 par value;
          29,000,000 shares authorized;
          and 16,442,319 and 16,181,070
          issued and outstanding, respectively            168           167
         Additional paid-in capital                   247,159       240,000
         Retained earnings                            174,689       144,644
         Accumulated other comprehensive income        43,942        35,573
           Total Shareholders' Equity                 465,958       420,384
       Total Liabilities and Shareholders' Equity    $743,552      $676,469



                          CIRCOR INTERNATIONAL, INC.
                        SUMMARY OF ORDERS AND BACKLOG
                                (in thousands)
                                  UNAUDITED


                                  Three Months Ended       Six Months Ended
                                  June 29,    July 1,      June 29,    July 1,
                                    2008       2007          2008       2007
       ORDERS
         Instrumentation &
          Thermal Fluid
          Controls               $101,002    $99,057      $212,168   $183,828

         Energy Products           96,877    129,345       222,736    231,416

         Total orders            $197,879   $228,402      $434,904   $415,244



                                  June 29,    July 1,
                                    2008       2007
       BACKLOG
         Instrumentation &
          Thermal Fluid
          Controls               $164,259   $130,224

         Energy Products          281,714    243,490

         Total backlog           $445,973   $373,714




         Note: Backlog includes all unshipped customer orders.





                          CIRCOR INTERNATIONAL, INC.
                          SUMMARY REPORT BY SEGMENT
                  (in thousands, except earnings per share)
                                  UNAUDITED


                                                     2007
                                1ST QTR   2ND QTR  3RD QTR  4TH QTR     YTD
    NET REVENUES

      Instrumentation &
       Thermal Fluid
       Controls (TFC)           $81,296   $85,740  $85,094  $91,466  $343,596
      Energy Products            79,967    80,197   78,923   83,057   322,144
        Total                   161,263   165,937  164,017  174,523   665,740

    ADJUSTED OPERATING MARGIN

      Instrumentation & TFC
       (excl. special &
       asbestos charges)           8.9%      9.6%     9.3%    12.8%     10.2%
      Energy Products
       (excl. special charges)    12.7%     16.3%    17.4%    15.3%     15.4%
        Segment operating
         income (excl.
         special & asbestos
         charges)                 10.8%     12.8%    13.2%    14.0%     12.7%
      Corporate expenses
       (excl. special &
       asbestos charges)          -2.3%     -2.3%    -3.0%    -3.1%     -2.7%
      Asbestos charges
       (attributable to
       Instrumentation & TFC)     -0.6%     -0.6%    -1.1%    -2.1%     -1.1%
      Special charges             -0.4%     -0.4%    -1.3%     0.5%     -0.4%
        Total operating margin     7.4%      9.5%     7.8%     9.3%      8.5%

    ADJUSTED OPERATING INCOME

      Instrumentation & TFC
       (excl. special &
       asbestos charges)          7,271     8,204    7,913   11,681    35,069
      Energy Products
       (excl. special
       charges)                  10,125    13,063   13,745   12,675    49,608
        Segment operating
         income (excl.
         special & asbestos
         charges)                17,396    21,267   21,658   24,356    84,677
      Corporate expenses
       (excl. special &
       asbestos charges)         (3,653)   (3,804)  (4,942)  (5,463)  (17,862)
      Asbestos charges
       (attributable to
       Instrumentation & TFC)    (1,038)   (1,018)  (1,837)  (3,641)   (7,534)
      Special charges              (691)     (615)  (2,130)     922    (2,514)

        Total operating income   12,014    15,830   12,749   16,174    56,767

    INTEREST EXPENSE, NET        (1,218)     (884)    (744)    (155)   (3,001)
    OTHER (EXPENSE) INCOME, NET      97      (215)   1,508     (133)    1,257

      PRETAX INCOME              10,893    14,731   13,513   15,886    55,023
    PROVISION FOR INCOME TAXES   (3,486)   (4,713)  (3,148)  (5,765)  (17,112)
    EFFECTIVE TAX RATE            32.0%     32.0%    23.3%    36.3%     31.1%
      NET INCOME                 $7,407   $10,018  $10,365  $10,121   $37,911

    Weighted Average Common
     Shares Outstanding
     (Diluted)                   16,533    16,679   16,768   16,925    16,730

    EARNINGS PER COMMON
     SHARE (Diluted)              $0.45     $0.60    $0.62    $0.60     $2.27

    EBIT                        $12,111   $15,615  $14,257  $16,041   $58,024
    Depreciation                  2,808     2,812    2,662    2,588    10,870
    Amortization of
     intangibles                    626       632      659      662     2,579
      EBITDA                    $15,545   $19,059  $17,578  $19,291   $71,473

    EBITDA AS A PERCENT OF
     SALES                         9.6%     11.5%    10.7%    11.1%     10.7%

    CAPITAL EXPENDITURES         $1,776    $2,266   $2,844   $5,097   $11,983




                                   CIRCOR INTERNATIONAL, INC.
                                    SUMMARY REPORT BY SEGMENT
                            (in thousands, except earnings per share)
                                            UNAUDITED


                                                        2008
                                            1ST QTR    2ND QTR     YTD
    NET REVENUES

      Instrumentation & Thermal
       Fluid Controls (TFC)                $88,450    $98,867   $187,317
      Energy Products                       88,125    107,738    195,863
        Total                              176,575    206,605    383,180

    ADJUSTED OPERATING MARGIN

      Instrumentation & TFC (excl.
       special & asbestos charges)           12.5%      12.6%      12.6%
      Energy Products (excl.
       special charges)                      16.2%      20.4%      18.5%
        Segment operating income
         (excl. special & asbestos
         charges)                            14.4%      16.6%      15.6%
      Corporate expenses (excl.
       special & asbestos charges)           -2.6%      -2.4%      -2.5%
      Asbestos charges (attributable
       to Instrumentation & TFC)             -0.6%      -1.0%      -0.8%
      Special charges                        -0.1%       0.0%       0.0%
        Total operating margin               11.0%      13.3%      12.3%

    ADJUSTED OPERATING INCOME

      Instrumentation & TFC (excl.
       special & asbestos charges)          11,069     12,451     23,520
      Energy Products (excl.
       special charges)                     14,303     21,938     36,241
        Segment operating income
         (excl. special & asbestos
         charges)                           25,372     34,389     59,761
      Corporate expenses (excl.
       special & asbestos charges)          (4,628)    (4,890)    (9,518)
      Asbestos charges (attributable
       to Instrumentation & TFC)            (1,075)    (2,009)    (3,084)
      Special charges                         (160)         -       (160)

        Total operating income              19,509     27,490     46,999

    INTEREST EXPENSE, NET                     (145)        23       (122)
    OTHER (EXPENSE) INCOME, NET               (401)      (248)      (649)

      PRETAX INCOME                         18,963     27,265     46,228
    PROVISION FOR INCOME TAXES              (6,068)    (8,840)   (14,908)
    EFFECTIVE TAX RATE                       32.0%      32.4%      32.2%
      NET INCOME                           $12,895    $18,425    $31,320

    Weighted Average Common Shares
     Outstanding (Diluted)                  16,872     17,053     16,965

    EARNINGS PER COMMON SHARE (Diluted)      $0.76      $1.08      $1.85

    EBIT                                   $19,108    $27,242    $46,350
    Depreciation                             2,874      2,977      5,851
    Amortization of intangibles                656        676      1,332
      EBITDA                               $22,638    $30,895    $53,533

    EBITDA AS A PERCENT OF SALES             12.8%      15.0%      14.0%

    CAPITAL EXPENDITURES                    $2,851     $3,416     $6,267




                          CIRCOR INTERNATIONAL, INC.
         RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED
                GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS
                                (in thousands)
                                  UNAUDITED

                                                  2007
                             1ST QTR   2ND QTR   3RD QTR   4TH QTR     YTD

    FREE CASH FLOW [NET
     CASH FLOW FROM
     OPERATING ACTIVITIES
     LESS CAPITAL
     EXPENDITURES LESS
     DIVIDENDS PAID]         $(5,429)   $5,439   $11,470   $30,989   $42,469
        ADD:  Capital
               expenditures    1,776     2,266     2,844     5,097    11,983
              Dividends paid     609       614       617       624     2,464

      NET CASH PROVIDED BY
       (USED IN) OPERATING
       ACTIVITIES            $(3,044)   $8,319   $14,931   $36,710   $56,916

    NET (CASH) DEBT [TOTAL
     DEBT LESS CASH & CASH
     EQUIVALENTS LESS
     INVESTMENTS]            $39,366   $29,848   $11,815  $(21,421) $(21,421)
        ADD:  Cash & cash
               equivalent     27,050    25,281    30,174    34,662    34,662
              Investments         87        94       100     8,861     8,861

      TOTAL DEBT             $66,503   $55,223   $42,089   $22,102   $22,102

    NET DEBT AS % OF NET
     CAPITALIZATION              10%        7%        3%       -5%       -5%

      NET CAPITALIZATION
       [TOTAL DEBT PLUS
       SHAREHOLDERS' EQUITY
       LESS CASH & CASH
       EQUIVALENTS, LESS
       INVESTMENTS]         $408,944  $415,386  $420,951  $398,963  $398,963
        LESS: Total debt     (66,503)  (55,223)  (42,089)  (22,102)  (22,102)
        ADD:  Cash & cash
               equivalents    27,050    25,281    30,174    34,662    34,662
              Investments         87        94       100     8,861     8,861

      TOTAL SHAREHOLDERS'
       EQUITY                369,578   385,538   409,136   420,384   420,384
        ADD:  Total debt      66,503    55,223    42,089    22,102    22,102

      TOTAL CAPITAL         $436,081  $440,761  $451,225  $442,486  $442,486

    TOTAL DEBT/TOTAL CAPITAL     15%       13%        9%        5%        5%

    EBIT [NET INCOME LESS
     INTEREST EXPENSE, NET]  $12,111   $15,615   $14,257   $16,041   $58,024
        LESS: Interest
               expense, net   (1,218)     (884)     (744)     (155)   (3,001)
              Provision for
               income taxes   (3,486)   (4,713)   (3,148)   (5,765)  (17,112)

      NET INCOME              $7,407   $10,018   $10,365   $10,121   $37,911

    EBITDA [NET INCOME LESS
     INTEREST EXPENSE, NET
     LESS DEPRECIATION LESS
     AMORTIZATION LESS
     TAXES]                  $15,545   $19,059   $17,578   $19,291   $71,473
        LESS: Interest
              expense, net    (1,218)     (884)     (744)     (155)   (3,001)
             Depreciation     (2,808)   (2,812)   (2,662)   (2,588)  (10,870)
             Amortization of
              intangibles       (626)     (632)     (659)     (662)   (2,579)
             Provision for
              income taxes    (3,486)   (4,713)   (3,148)   (5,765)  (17,112)

      NET INCOME              $7,407   $10,018   $10,365   $10,121   $37,911




                          CIRCOR INTERNATIONAL, INC.
         RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED
                GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS
                                (in thousands)
                                  UNAUDITED

                                                             2008
                                                 1ST QTR   2ND QTR     YTD

    FREE CASH FLOW [NET CASH FLOW
     FROM OPERATING ACTIVITIES
     LESS CAPITAL EXPENDITURES LESS
     DIVIDENDS PAID]                             $(5,366)  $31,553   $26,187
        ADD:  Capital expenditures                 2,851     3,416     6,267
              Dividends paid                         626       631     1,257

      NET CASH PROVIDED BY (USED IN)
       OPERATING ACTIVITIES                      $(1,889)  $35,600   $33,711

    NET (CASH) DEBT [TOTAL DEBT LESS
     CASH & CASH EQUIVALENTS LESS
     INVESTMENTS]                               $(21,709) $(46,796) $(46,796)
        ADD:  Cash & cash equivalents             42,690    38,835    38,835
              Investments                          4,036    31,590    31,590

      TOTAL DEBT                                 $25,017   $23,629   $23,629

    NET DEBT AS % OF NET CAPITALIZATION              -5%      -11%      -11%

      NET CAPITALIZATION [TOTAL DEBT PLUS
       SHAREHOLDERS' EQUITY LESS
       CASH & CASH EQUIVALENTS, LESS
       INVESTMENTS]                             $424,670  $419,162  $419,162
        LESS: Total debt                         (25,017)  (23,629)  (23,629)
        ADD:  Cash & cash equivalents             42,690    38,835    38,835
              Investments                          4,036    31,590    31,590

      TOTAL SHAREHOLDERS' EQUITY                 446,379   465,958   465,958
        ADD:  Total debt                          25,017    23,629    23,629

      TOTAL CAPITAL                             $471,396  $489,587  $489,587

    TOTAL DEBT/TOTAL CAPITAL                          5%        5%        5%

    EBIT [NET INCOME LESS
     INTEREST EXPENSE, NET]                      $19,108   $27,242   $46,350
        LESS: Interest expense, net                 (145)       23      (122)
              Provision for income taxes          (6,068)   (8,840)  (14,908)

      NET INCOME                                 $12,895   $18,425   $31,320

    EBITDA [NET INCOME LESS INTEREST
     EXPENSE, NET LESS DEPRECIATION
     LESS AMORTIZATION LESS TAXES]               $22,638   $30,895   $53,533
        LESS:
          Interest expense, net                     (145)       23      (122)
          Depreciation                            (2,874)   (2,977)   (5,851)
          Amortization of intangibles               (656)     (676)   (1,332)
          Provision for income taxes              (6,068)   (8,840)  (14,908)

      NET INCOME                                 $12,895   $18,425   $31,320

SOURCE CIRCOR International, Inc.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear