Flowserve Corporation Q4 Profit Decreases, misses estimates

(RTTNews) - Flowserve Corporation (FLS) released a profit for fourth quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $16.73 million, or $0.13 per share. This compares with $56.05 million, or $0.43 per share, in last year's fourth quarter.

Excluding items, Flowserve Corporation reported adjusted earnings of $58.92 million or $0.45 per share for the period.

Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.7% to $919.46 million from $985.31 million last year.

Flowserve Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $16.73 Mln. vs. $56.05 Mln. last year. -EPS (Q4): $0.13 vs. $0.43 last year. -Analyst Estimates: $0.48 -Revenue (Q4): $919.46 Mln vs. $985.31 Mln last year.