IN FOCUS

In the Flowserve Pump Division (FPD), second quarter 2004 sales increased 10 percent to $324.6 million. The results reflect the improved conditions in many of its end-user markets and efficiency gains at some plants.

Gardner Denver, Inc. announced that revenues for the three months ended June 30, 2004 were $161.3 million, a 47% increase compared to the second quarter of the previous year. Net income for the three-month period of 2004 was $8.3 million, a 55% increase compared to the same period last year and a 26% increase compared to the three months ended March 31, 2004.

Crane Co., a diversified manufacturer of engineered products, reports second quarter 2004 net income increased to $31.2 million, or $0.52 per share, compared with net income of $26.0 million or $0.44 per share reported in the second quarter 2003.

Pentair announced that its second quarter 2004 earnings per share (EPS) of $0.55 increased 25 percent over second quarter 2003 EPS of $0.44 (adjusted to reflect the impact of a two-for-one stock split effective June 8, 2004). Pentair’s second quarter 2004 net sales totaled $813.9 million, up 13 percent from $719.0 million in the same period a year ago.

Dover Corporation (NYSE: DOV) earned $109.7 million or $.53 diluted earnings per share (EPS) from continuing operations for the second quarter ended June 30, 2004, compared to $71.6 million or $.36 EPS from continuing operations in the comparable period last year, an increase in earnings and EPS of 53% and 47%, respectively.

Order intake at Sulzer rose to CHF 1095 million in the first half of 2004. Compared with the previous year, this represents a respectable growth rate of 9% in nominal terms (adjusted , 7%).

SKF published the half-year report 2004. The company reports a 10.7% increase in sales, measured in local currencies, compared to the same period in 2003.

Baker Hughes announced that it is creating a new division — Baker Hughes Drilling Fluids. The new division will be responsible for the oilfield drilling fluids, completion fluids and fluids environmental services businesses.

A “high earnings future” was the prospect which Chairman of the Board of Management Josef Gerstner held out to KSB shareholders at the Annual General Meeting on 7 June 2004 in Frankenthal for the coming years.

IDEX Corporation announced that it will broadcast the company’s second quarter earnings conference call over the Internet on Thursday, July 22, at 1:30 p.m. CDT.