Flowserve Corporation Q4 Profit Increases, beats estimates

(RTTNews) - Flowserve Corporation (FLS) released a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $121.33 million, or $0.92 per share. This compares with $16.73 million, or $0.13 per share, in last year's fourth quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $83.06 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.0% to $1.04 billion from $0.92 billion last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $121.33 Mln. vs. $16.73 Mln. last year. -EPS (Q4): $0.92 vs. $0.13 last year. -Analyst Estimate: $0.53 -Revenue (Q4): $1.04 Bln vs. $0.92 Bln last year.