UPDATE 1-Crane posts higher 1st-qtr profit
April 23 (Reuters) - Diversified manufacturer Crane Co posted a higher first-quarter profit, helped by growth at its aerospace and electronics, and fluid handling segments.
The 157-year-old company, which makes everything from aerospace electronics to vending machines, said operating margins rose to 12.1 percent from 11.9 percent last year.
Crane's net income rose to $51.7 million, or 88 cents a share, from $48.5 million, or 81 cents a share, a year ago. Net sales jumped 8 percent to $657.9 million.
Sales at its fluid handling and aerospace & electronics segments -- that together account for more than 70 percent of total sales -- rose 14 percent and 8 percent respectively.
Shares of the Stamford, Connecticut-based company closed at $46.99 on Monday on the New York Stock Exchange.
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