Gardner Denver, Inc. Reports 2001 Earnings Per Share of $1.40: Revenues Grow 11% and EPS Increases 16% Over Prior Year

15.02.2002

QUINCY, Ill., Feb. 13 /PRNewswire-FirstCall/ -- Gardner Denver, Inc. (NYSE: GDI), a leading manufacturer of compressors and blowers for industrial applications and pumps for the petroleum and industrial markets, announced that revenues were $419.8 million for the year ended December 31, 2001.

Diluted earnings per share were $1.40 for the year and $0.33 for the fourth

quarter of 2001. Ross J. Centanni, Chairman, President and CEO said, "Given

the very challenging market conditions that have existed over the latter part

of the year, especially since September 11, we are pleased with our results.

Our profitability has held up better than that of many industrial companies in

this difficult environment, and cash flow from operations continues to grow."

The Company also announced a change in its segment reporting. The

Petroleum Products segment has been renamed the Pump Products segment. The

name was changed because the Company's water jetting operations are now

included in this segment, expanding its scope beyond petroleum related

products. The water jetting operations were previously included in the

Company's Compressed Air Products segment. Gardner Denver had previously

announced the formation of a Pump Division, comprised of its petroleum pump

and water jetting operations. The new segment reporting is effective with the

disclosures included in this release. Certain prior period amounts have been

restated to conform with the current presentation.

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