IN FOCUS

IDEX Corporation announced its financial results for the three months ended March 31, 2004. Orders increased 15 percent, sales were up 10 percent, and net income rose 39 percent from the first quarter of 2003. Diluted earnings per share were 52 cents versus 39 cents in the year-ago period.

Baker Hughes Incorporated announced that, in accordance with generally accepted accounting principles (GAAP), income from continuing operations for the first quarter of 2004 was $95.3 million or $0.29 per share (diluted), …

Pentair announced that its first quarter 2004 earnings per share (EPS) of $0.80 increased 43 percent over EPS of $0.56 in the same period last year. Pentair’s first quarter 2004 net sales totaled $767.1 million, up 20 percent from $637.5 million in the same period a year ago.

The latest generation of the Wilo-Smart ‘one size fits all’ automatic circulator offers high levels of reliability and genuine energy savings in a wide range of light commercial applications such as hospitals, local authorities, leisure centres, municipal buildings and council flats.

In April, German pump manufacturer EMU decided to participate in the PumpSelector on impeller.net. In its global database, EMU is represented with pumps for industrial water supply and sewage disposal and treatment.

Diversified industrial manufacturer Eaton Corporation announced today it has signed an agreement with Invensys PLC to purchase its power systems business, Powerware Corporation, for $560 million.

Crane Co. announced that Karen E. Dykstra has joined the Company’s Board of Directors with her election at the Company’s annual meeting of shareholders.

IDEX Corporation announced that it has entered into a definitive agreement to acquire Scivex, Inc., a leading provider of fluidic components and systems for the analytical, biotechnology and diagnostic instrumentation markets.

A bespoke pump maker is using ultrasound waves to efficiently model drive torque and thus contain development costs to within predictable limits. Charles Austen Pumps has recently upgraded test facilities with Surface Acoustic Wave (SAW) equipment from Sensor Technology, a recognised leader in the field.

The Board of Directors of Parker Hannifin Corporation declared a regular quarterly cash dividend of $0.19 per share of common stock payable June 4, 2004, to shareholders of record as of May 20. This brings the total current fiscal- year dividends declared to 76 cents.