Flowserve Corp. (NYSE: FLS), Dallas, TX, reported sales for the first quarter of $1 billion, down 5 percent year-over-year. Profit decreased 74.3 percent to $27.7 million.
"Our 2015 first quarter results were lower than expected, specifically in the final month, by broad-based industrial spending declines, which originated in the oil and gas markets, and were further accentuated by the strengthening U.S. dollar," said Mark Blinn, president CEO.
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