* Expects first-quarter revenue $5.10 bln-$5.35 bln vs
estimate $5.26 bln
* Fourth-quarter adjusted earnings/share $1.57 vs estimate
* Fourth-quarter loss/share $3.62 from continuing operations
* Fourth-quarter revenue up 14 percent
* Flow technology segment revenue up 29 percent
Feb 14 Diversified U.S. manufacturer SPX Corp
reported better-than-expected quarterly results on a 29
percent increase in revenue from its largest flow technology
The segment, which makes equipment used in producing liquids
ranging from petroleum to dairy products, recorded quarterly
revenue of $728.2 million, helped mainly by acquisitions. Total
revenue rose 14 percent to $1.44 billion.
SPX has been adding and selling businesses to become a flow
technology company as demand grows in emerging markets.
It tried in December to buy rival Gardner Denver Inc
, which makes compressors, pumps and vacuum products for
industrial uses, in a $4.2 billion deal. But talks between the
companies ended after doubts emerged on both sides about the
deal's success, Reuters reported.
SPX also said in December that it completed a sale of its
automotive service business to Robert Bosch GmbH,
exiting its roots in the car industry.
Charlotte, North Carolina-based SPX, which makes food and
beverage production equipments, electrical transformers, and
cooling towers for power plants, also forecast 2013 revenue
largely in line with expectations.
It said it expects full-year earnings of $4.60 to $5.10 per
share on revenue of between $5.10 billion and $5.35 billion.
Analysts on average were expecting earnings of $5.11 per
share on revenue of $5.26 billion, according to Thomson Reuters
SPX reported a loss of $3.62 per share from continuing
operations in the quarter ended December, compared with a profit
of $1.13 per share a year earlier. Excluding one-time charges,
it earned $1.57 per share.
Analysts on average expected earnings of $1.56 per share on
revenue of $1.38 billion.