IN FOCUS

Crane Co. reported third quarter 2003 net income of $28.1 million, or $0.47 per share, in line with management’s previous guidance, compared to $20.5 million, or $0.34 per share, reported for the third quarter of 2002.

Thomas Industries Inc. today reported that earnings for the third quarter of 2003 were the highest for any quarter in the Company’s history, while sales for the pump and compressor business were the highest for any third quarter.

Acquisition Includes Neptune Technology Group, DAP Technologies and DB Microware and is Expected to be accretive in the first year. Investor Meetings Scheduled for Wednesday, October 22.

Order intake by the Sulzer Corporation for the first nine months of 2003 totaled CHF 1482 million. Compared with the prior year period, this represents strong growth of 7% in local currencies and adjusted for acquisition effects, or 1% nominal.

Revenues and Net Income Increase 9% Compared to the Previous Year the Company Continues to Generate Strong Cash Flow.

Flowserve Corp. reported net income of $10.6 million, or 19 cents a share, in the third quarter of 2003, compared with $9.3 million, or 17 cents a share, in the year-ago quarter.

Oct 16, 2003. EX Corporation reported that orders, sales and earnings for the three months ended September 30, 2003, improved from the same quarter of last year, and, as expected, were below this year’s second quarter levels primarily due to seasonal factors.

Oct 16, 2003. Pentair reported earnings per share (EPS) of $0.77 for the third quarter 2003, noting that third quarter margins in the Company’s Water Technologies Group improved to the same level as in last year’s third quarter, and that the Enclosures Group recorded its seventh consecutive quarter of sequential margin improvement.

Oct. 14, 2003–Diversified industrial manufacturer Eaton Corporation announced net income per share of $1.39 for the third quarter of 2003, an increase of 7 percent from net income per share of $1.30 in the third quarter of 2002. Sales in the quarter were $2.03 billion, 11 percent above last year. Net income was $107 million compared to $93 million in 2002.

Georg Fischer streamlines its three core businesses and launches a comprehensive structural programme to improve operational performance in all three corporate groups. These measures will result in a lasting increase of the Company’s profitability and reduce its net financial debt, even in a continuously difficult economic environment.