Flowserve Corporation Q4 Profit Decreases, but beats estimates

(RTTNews) - Flowserve Corporation (FLS) revealed earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $62.62 million, or $0.47 per share. This compares with $121.33 million, or $0.92 per share, in last year's fourth quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $90.24 million or $0.68 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.5% to $1.17 billion from $1.04 billion last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $62.62 Mln. vs. $121.33 Mln. last year. -EPS (Q4): $0.47 vs. $0.92 last year. -Analyst Estimates: $0.60 -Revenue (Q4): $1.17 Bln vs. $1.04 Bln last year.