IN FOCUS

The oil and gas industry is challenged with process, logistical and safety issues which cause it to look to valve suppliers and other vendors to minimize operational and maintenance problems.

Franklin Electric Co. reported first quarter 2014 adjusted earnings per share (EPS) of $0.35 compared to 2013 first quarter adjusted EPS of $0.33, a 6 percent increase. In the first quarter of 2014, the Company s GAAP fully diluted EPS was $0.35 which was up 9 percent to the GAAP fully diluted EPS from the first quarter of 2013.

National Oilwell Varco, Inc. reported that for its first quarter ended March 31, 2014, it earned net income of $589 million, or $1.37 per fully diluted share, compared to fourth quarter ended December 31, 2013 net income of $658 million, or $1.53 per fully diluted share. Excluding pre-tax transaction charges of $19 million, earnings were $602 million, or $1.40 per fully diluted share.

The markets for products and services to treat and purify water and fluids are growing at nearly twice the world s GDP growth rate. Some major segments will generate revenues this year of $224 billion. This is the conclusion reached in Air/Gas/Water/Fluid Treatment and Control: World Market published by the McIlvaine Company.

The Gorman-Rupp Company reports financial results for the first quarter ended March 31, 2014.

HMS Group releases its order intake for first quarter 2014.

Crane Co. a diversified manufacturer of highly engineered industrial products, reported first quarter 2014 earnings of $0.82 per diluted share, compared to $0.99 per share in the first quarter of 2013. First quarter 2014 results included after-tax items of $9.2 million, or $0.16 per share, related to the recent acquisition of MEI, and after-tax charges of $4.3 million, or $0.07 per share, related to previously disclosed repositioning activities.

Pentair Ltd. announced first quarter 2014 sales of $1.7 billion. Sales were down 3 percent compared to sales for the same period last year. Adjusted first quarter 2014 earnings per diluted share (“EPS”) were $0.73, up 26 percent from adjusted EPS of $0.58 in the first quarter of last year. On a GAAP basis, the company reported EPS of $0.59 compared to EPS of $0.25 in the first quarter of 2013. Adjusted EPS and operating income exclude repositioning costs, acquisition and redomicile-related expenses, gain/loss on sale of a business and certain tax items.

Sales of reverse osmosis, ultrafiltration and microfiltration systems along with the replacement membranes will exceed $3 billion in North and South America in 2015.

In the first quarter of 2014, Sulzer received orders of CHF 828.4 million. The order intake—now reported according to the new operational structure—shows a nominal increase of 2.7% (adjusted 8.6%) compared with the first quarter of 2013. Sales lagged slightly behind the figures from the previous year, mainly due to the timing of the execution of orders. For the full year, Sulzer expects a slight growth in order intake.