Crane Co. (CR) reported net income attributable to common shareholders of $35.1 million or $0.60 per share for the third quarter, compared to $36.1 million or $0.60 per share in the prior year quarter.
Third quarter sales declined 14% to $551 million from $642.7 million in the previous year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share for the quarter. Analysts' estimates typically exclude special items.
For 2009, the company now expects GAAP earnings of $1.90 to $2.05 per share, compared to its prior estimate of $1.75 to $2.05 per share. The company also reaffirmed its sales estimate of $2.2 billion for the year. Street currently expects earnings of $1.89 per share on revenue of $2.18 billion for the year.
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