* Q1 EPS $1.69 vs est $1.61
* Q1 Sales up 8 pct to $1.07 bln
* Bookings up 7 pct
* Reaffirms FY 2012 EPS outlook of $8.00 to $8.80
April 30 Industrial pump maker Flowserve Corp's
quarterly profit beat analysts' estimates, helped by an
increase in bookings.
For the first quarter, bookings rose 7 percent to $1.25
"Our strongest bookings quarter since the third quarter of
2008 was led by improvement in our longer and later cycle
project business in the chemical and oil and gas industries,"
chief executive Mark Blinn said in a statement.
Flowserve, which competes with Franklin Electric Co
and Pentair Inc, said it continues to expect 2012
earnings of $8.00 to $8.80 per share.
It also expects investments in emerging markets to help
achieve its revenue growth target of 5 percent to 7 percent for
Analysts, on average, are expecting earnings of $8.61 a
share on revenue of $4.8 billion for 2012, according to Thomson
For the first quarter, Flowserve's net income fell to $93.1
million, or $1.69 a share, from $97 million, or $1.72 a share, a
Sales rose 8 percent to $1.07 billion.
Analysts had expected earnings of $1.61 a share on revenue
of $1.07 billion.
Shares of the company closed at $114.93 on Monday on the New
York Stock Exchange.