IN FOCUS

Pentair (NYSE: PNR) announced that it generated third quarter 2002 earnings per share (EPS) of $0.75, a 13.6 percent gain over EPS of $0.66 — without goodwill amortization — in the same period last year.

Flowserve Corp. reported net income of 17 cents a share in the third quarter of 2002, compared with 15 cents a share in the year ago quarter. Excluding special items, net income was 31 cents a share in the third quarter of 2002, in line with the company’s recent guidance, compared with 38 cents in the prior year period.

Order intake by the Sulzer Corporation for the first nine months 2002 totalled CHF 1463 million (–6% compared with prior year, +1% adjusted for acquisitions, divestitures and currency effects). Order intake by the core divisions was CHF 1425 million, 3% below prior year level (adjusted: +1%).

National-Oilwell, Inc. reported third quarter net income of $17.8 million ($0.22 per diluted share) compared to $28.9 million ($0.36 per diluted share) in the third quarter of 2001. Revenues for the quarter were $366.9 million, compared to $486.8 million in the third quarter of 2001.

IDEX Corporation reported that orders, sales and earnings for the three months ended September 30, 2002, significantly improved from the same quarter last year but were slightly below this year’s second quarter levels. Diluted earnings per share for the just completed quarter were 45 cents.

The Gorman-Rupp Company (AMEX:GRC)announced that financial results for the second quarter and first six months of 2002 reflect slowed economic conditions in the capital goods and industrial sectors.

In view of the challenging market situation, the Sulzer Corporation attained satisfactory profitability per mid-year 2002, with an operating income (EBIT) of CHF 66 million and net income reaching CHF 42 million. Operating income of the core divisions totaled CHF 31 million, 26% below the prior-year figure of CHF 42 million. Although the economic environment is likely to remain difficult in the second half of 2002, the Sulzer Corporation expects to end the year with a respectable net income compared to the breakeven result of the prior year.

During the first half-year, the Group’s inflow of orders amounted to SEK 5,591 million (5,704), which is 7 percent lower than the previous year for the current structure of the Group after adjustment for the effects of exchange rate movements. The decrease is almost exclusively attributable to Rail.

DALLAS, Aug 14, 2002 — Flowserve Corp. (NYSE:FLS) today confirmed that the company’s chief executive officer and chief financial officer today provided to the SEC their personal fully compliant certifications covering Flowserve’s financial reports filed with the SEC in 2002.

Invoiced sales amounted to 165 MEUR (145), which adjusted for the effects of exchange rate movements is a rise of 14 percent. Company acquisitions account for 8 percentage points of this figure. Operating earnings rose to 9.1 MEUR (8.0).