SPX posts lower quarterly profit

NEW YORK Wed Oct 31, 2012 6:43am EDT

NEW YORK Oct 31 (Reuters) - Diversified U.S. manufacturer SPX Corp reported a decline in quarterly profit on Wednesday amid weakness in European industrial markets.

The maker of equipment used in drinks and oil production, as well as cooling towers for power plants, earned a net $57.8 million, or $1.16 per share, compared with $60.7 million, or $1.20 per share, a year ago.

Sales rose 7 percent to $1.25 billion.