IN FOCUS

“Strong orders received during the second quarter 2005 gave an increase with almost nine percent, excluding exchange rate variations”, Lars Renström, President and CEO.

With sales virtually unchanged, Allweiler closed the year 2004 with a significantly higher level of incoming orders and an order backlog. During the first five months of 2005, the company bucked the general trend with incoming orders that were 10 percent higher than the previous year and 15 percent higher than projected.

ABB reported higher orders, revenues, earnings before interest and taxes (EBIT) and net income in the second quarter of 2005 compared to the same quarter in 2004, resulting from continued growth in most markets and further progress in lifting operational efficiency.

Baker Hughes Incorporated today announced that net income for the second quarter of 2005 was $218.8 million or $0.64 per diluted share, up 87% compared to $116.9 million or $0.35 per diluted share for the second quarter of 2004 and up 22% compared to $179.8 million or $0.53 per diluted share for the first quarter of 2005.

Crane Co., a diversified manufacturer of engineered industrial products, reports second quarter 2005 net income increased to $35.7 million, or $.59 per share, compared with net income of $31.2 million, or $.52 per share in the second quarter of 2004.

Roper Industries, Inc. reported record results for the second quarter ended June 30, 2005. Diluted earnings per share (DEPS) were $0.82 in the quarter. Cash flow from operating activities grew 56% over the prior year to $63 million, which represents 176% of net earnings.

Flowserve Corp. reported increased bookings, stable backlog and a debt repayment in the second quarter of 2005, and provided other updates.

Pentair today announced its second quarter 2005 results, highlighting a 50 percent year-over-year increase in earnings per share (EPS) from continuing operations driven by stronger margins in Pentair’s Enclosures and Water businesses, coupled with share gains in robust Enclosures markets and the contributions of the new water businesses acquired in the WICOR purchase in August 2004.

Thanks to innovative products such as our cancer treatment Erbitux and liquid crystals, Merck’s profitability continues to rise,” said Bernhard Scheuble, Chairman of the Executive Board of Merck KGaA. “Excluding the gains from our strategic divestments, Merck’s profit after tax rose a very substantial 27%. Excluding divested units, Merck continues to expect Group sales to rise by a single-digit rate in 2005.”

IDEX Corporation announced record financial results for the three months ended June 30, 2005. Orders were up 18 percent, sales increased 16 percent and net income rose 27 percent to an all-time high of $28.9 million. Diluted earnings per share were 55 cents versus 44 cents in the year-ago period.