IN FOCUS

National Oilwell, Inc. announced results for the third quarter of 2004, reporting net income of $27.8 million, or $0.32 per diluted share, compared to second quarter 2004 net income of $21.4 million, or $0.25 per diluted share.

Thomas Industries Inc. reported record earnings for the three months ending September 30, 2004, of $90,268,000 or $5.07 per share, versus $10,583,000, or $.60 per share in the comparable period in 2003.

Pentair announced that its third quarter 2004 earnings per share (EPS) from continuing operations of $0.32 increased 19 percent over third quarter 2003 EPS from continuing operations of $0.27.

Crane Co. a diversified manufacturer of engineered products, reports third quarter 2004 net income, before a non-cash charge, was $33.2 million, or $0.56 per share, compared with net income of $28.1 million, or $0.47 per share, reported in the third quarter 2003.

Diversified industrial manufacturer Eaton Corporation announced it has sold $75 million of 5.45 percent senior debentures due October 2034, pursuant to an underwriting agreement with Legg Mason Wood Walker, Incorporated.

Sulzer registered a high growth in order intake during the first nine months of the year by a nominal 12.2% to CHF 1,662.4 million. Adjusted for acquisition and currency effects the increase was 11% over the prior year.

ITT Industries, Inc. announced third quarter 2004 net income of $109.8 million, even with the period last year, and up 21 percent when excluding the net benefit of special items recorded in the third quarter 2003.

IDEX Corporation reported record sales and net income for the three- and nine-month periods ended September 30, 2004. Diluted earnings per share for the third quarter were 44 cents, up 33 percent from the third quarter of 2003. Earnings per diluted share for the first nine months of 2004 were $1.23, up 32 percent versus the first nine months of 2003.

SKF reports for the third quarter of 2004 a 14.1% increase in sales, measured in local currencies, compared to the same period in 2003. The operating margin for the quarter was 10.6% (8.4). The price/mix increased by 2.3%. Cash flow continued to be strong.

Parker Hannifin Corporation today reported record quarterly net income and earnings for the period ended September 30, 2004, while also marking a record $1.95 billion in fiscal first-quarter sales.